Binance's Head of Crime Compliance Leaves Position Following Nigeria's Detention
Tigran Gambaryan, a former IRS investigator and Binance's former Head of Financial Crime Compliance, has announced his departure from the cryptocurrency exchange. Gambaryan played a significant role in steering Binance towards a more corporate, compliance-first direction, particularly during challenging periods in markets with evolving regulations.
Gambaryan joined Binance in 2021 and built a team of over 100 experts, including ex-prosecutors, agents, and compliance specialists. His team was instrumental in Binance's efforts to legitimise its operations, as evidenced by their response to over 57,000 law enforcement requests under Gambaryan's leadership.
One of Gambaryan's most notable stints was in Nigeria, where he was detained for eight months in 2024. The detention occurred during a compliance visit, reflecting Binance's attempts to cooperate with regulators amid heightened scrutiny in that market. Gambaryan was released later that year following a health scare during his confinement and international diplomatic interventions.
Despite the challenges, Gambaryan remains optimistic about the need for trusted, experienced operators in the intersection of technology, enforcement, and compliance. However, he has not specified the exact nature of his future plans, leaving the door open for potential opportunities in the public sector or a mission-driven private organization.
Gambaryan's departure comes as Binance continues a leadership shake-up that started in 2023. Notably, Binance founder Changpeng "CZ" Zhao stepped down last year as part of a U.S. plea deal over anti-money laundering violations, and at least 16 top executives have left the company in the past two years.
As Gambaryan moves on, his legacy at Binance will undoubtedly be marked by his pivotal role in navigating regulatory challenges and building a robust compliance team. His departure is a significant milestone for Binance, as they continue to navigate the complex and evolving regulatory landscape of the cryptocurrency industry.
Context and Supporting Details:
- Role at Binance: Gambaryan was responsible for ensuring Binance met regulatory requirements, managing investigations, and negotiating with authorities. His arrest in Nigeria (2024) during a compliance visit highlights the challenges Binance faced under his oversight in markets with evolving crypto regulations.
- Regulatory environment in Nigeria: The 2025 Investments and Securities Act recognises crypto as securities, requiring exchanges like Binance to register and comply strictly with the securities commission’s licensing and supervision. Gambaryan’s earlier attempts to engage regulators occurred prior to these new frameworks, signifying the evolving regulatory landscape he contended with.
- Legal challenges for Binance: Binance remains embroiled in criminal cases in Nigeria, including tax evasion claims, with ongoing procedural delays affecting the company’s operations there. Gambaryan’s involvement reflects his integral role in Binance’s regulatory battlefront, although these processes are widely seen as protracted and uncertain.
- Future prospects: Given his compliance expertise and prior IRS background, it is conceivable Gambaryan might pursue roles in regulatory agencies or mission-driven organizations focused on governance and financial integrity. However, no public statements or announcements have outlined his career plans since his release in late 2024.
In the realm of finance and business, Tigran Gambaryan's departure from Binance marks a significant shift for the cryptocurrency exchange, particularly in relation to general-news events surrounding regulatory challenges. As a former IRS investigator who built a robust compliance team that addressed over 57,000 law enforcement requests, Gambaryan's legacy includes navigating complex regulatory landscapes, including high-profile cases like the ongoing legal battles in Nigeria. While the exact nature of his future plans remains unspecified, his expertise in crime and justice might influence his future endeavors, potentially in the public sector or a mission-driven private organization.
