Nigeria releases American crypto executive after dropping money laundering case

abcnews.go.com:

An American cryptocurrency executive held in Nigeria for the past eight months has been released after authorities there announced that they were ending his money laundering trial on health and diplomatic grounds

WASHINGTON — An American cryptocurrency executive held in Nigeria for the past eight months has been released after authorities there announced they were ending his money laundering trial on health and diplomatic grounds.

Tigran Gambaryan, Binance’s head of financial crime compliance, was freed on a humanitarian basis and was returning to the United States to receive medical attention, White House national security adviser Jake Sullivan said in a statement Thursday announcing the release.

“I am grateful to my Nigerian colleagues and partners for the productive discussions that have resulted in this step and look forward to working closely with them on the many areas of cooperation and collaboration critical to the bilateral partnership between our two countries,” Sullivan said. He said he had spoken with Gambaryan's wife “to share the good news.”

Gambaryan was arrested in February during a business trip to Nigeria alongside Nadeem Anjarwalla, the company’s regional manager in Africa, who fled custody and remains at large.

Nigerian authorities had accused Binance, the world’s largest cryptocurrency exchange, and Gambaryan of using the platform to launder up to $35 million and to manipulate the local naira currency, which they deny.

Nigeria is Africa’s largest crypto economy in terms of trade volume, with many citizens using crypto to hedge their finances against surging inflation and the declining local currency.

But as its users grew and the government struggled to stabilize the currency, officials alleged