Henri Arslanian, co-founder of Nine Blocks Capital Management and a former partner at PwC, has called for the release of Tigran Gambaryan, a U.S. citizen and Binance employee who has been detained in Nigeria since February. Arslanian stated that Gambaryan "has dedicated his life to fighting crime and upholding the rule of law," according to a March 30 post on X.
"Our friend Tigran Gambaryan has now been moved to detention after a month of being arbitrarily held in #Nigeria," said Arslanian, according to X. "We need to bring back home this individual who has dedicated his life to fighting crime and upholding the rule of law."
Arslanian added that he has known Gambaryan for "many years," dating back to when Gambaryan served as a special agent for the Internal Revenue Service (IRS). During his tenure there, Gambaryan was instrumental in combating "crypto crime," said Arslanian. He also noted that Gambaryan "played a leading role in bringing down the biggest crypto criminal platforms including Silk Road, AlphaBay, Hydra, BTC-E, etc." He concluded by urging that Gambaryan be "sent back home to be with his wife and kids."
According to Leo Schwartz in the Proof of State newsletter, Gambaryan and another Binance employee, Nadeem Anjarwalla, were invited to Nigeria by government officials in February under the pretext of discussing the country's "ongoing currency crisis." However, both employees were detained in a guarded house upon their arrival. After a month in detention, Anjarwalla managed to escape while "Gambaryan’s conditions have deteriorated since the incident." Schwartz further explained that it has "become clear" that "Gambaryan and Anjarwalla are pawns in the Nigerian government’s efforts to extract a massive fine from Binance." He added: "Whether Binance is guilty of tax evasion or currency manipulation is a separate matter—the pressing question here is whether Gambaryan is being held captive as a bargaining chip."
The Chamber of Digital Commerce, on March 15, issued an "urgent call to action," imploring President Joe Biden and the U.S. government "to employ every diplomatic measure to ensure Mr. Gambaryan’s immediate release," as per a post on the chamber's website. The chamber expressed concern that Gambaryan "appears to have been invited to Nigeria under false pretenses" and is now being held with the aim of coercing a fine from Binance. They further warned: "Tigran Gambaryan’s detainment under such dubious circumstances sets a dangerous precedent, signaling that any American businessman abroad, particularly those in the cryptocurrency sector, is vulnerable to similar unlawful actions by foreign governments."
An April 4 post on Binance's website appealed for Gambaryan's release, stating that he "has no decision-making power in the company" and should not be held accountable while discussions are ongoing between Binance and Nigerian government officials. The post described Gambaryan as a "strict law enforcement professional" whose team has responded to more than 600 information requests from Nigerian law enforcement since he joined the company in 2021.
Arslanian is a co-founder and managing partner of Nine Blocks Capital Management, a digital asset-focused hedge fund, according to his website. Prior to this role, he served as a partner and global crypto leader at PwC where he advised governments, central banks, and regulators on policy matters related to crypto. He has authored several books related to digital assets and financial technology, including "The Future of Finance."
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