As the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far.
On July 5, Nigerian prosecutors continued their case against Tigran Gambaryan, the Binance executive who has been detained by the Economic and Financial Crimes Commission (EFCC) since February.
Initially sparked by concerns over currency manipulation, this conflict has escalated into a significant legal battle between Binance, the world’s largest cryptocurrency exchange, and Nigerian authorities.
On Feb. 20, Binance’s Nigerian users faced issues trading USDT for naira on its peer-to-peer (P2P) platform, marking the start of more significant troubles. Binance responded by restricting Tether (USDT) purchases with naira, disabling the “Buy” option, and setting a 1,802 naira to USD peg, citing fraud prevention.