Binance CEO Calls for Unconditional Release of Tigran Gambaryan from Nigeria
The Nigerian government has been holding Gambaryan for more than 70 days to compel Binance executives to pay hefty fines for deteriorating local currency.
The Nigerian government has been holding Gambaryan for more than 70 days to compel Binance executives to pay hefty fines for deteriorating local currency.
The recent Bitcoin price rise above $65K has carried with it the altcoin market led by Solana, Toncoin, and Avalanche, among others.
Although the AMF extended its transitional period for compliance to December 2025, which allows Binance to operate in France until then, beyond this point, a MiCA license will be required to maintain EU market access.
In a significant demonstration of community backing, over 30,000 on-chain users have voiced their support for Changpeng Zhao (CZ), the founder of Binance, through a decentralized opinion poll on AlphaorBeta.
Despite Zhao plea and the severity of the charges, Binance continues to thrive in the booming cryptocurrency market, with over 40 million new users in 2023, up 30% from the previous year.
One significant point in Zhao’s favor is his extraordinary acceptance of responsibility. According to the court document, the Probation Office has recognized his conduct as “remarkable” and “exceptional”.
Former Binance CEO alias CZ will be sentenced on April 30, with the DoJ seeking a harsher punishment of 3 years.
While the $50 million penalty for Binance remains, the DOJ pushes for an aggressive stance against Binance and its top executives.
Binance is gradually losing its global trading market share to its many regulatory problems and increasing competition from other exchanges.
If found guilty by Judge Richard Jones, the former Binance CEO could face up to 10 years in prison, although the sentencing guidelines recommend a jail term of 12 to 18 months.