Binance Executive Denies $26 Billion Outflow Allegations by CBN

Tigran Gambaryan of Binance refuted the Central Bank of Nigeria’s claims of a $26 billion outflow through the exchange, describing it as misleading cumulative trade volume. He condemned the CBN’s scapegoating of Binance for Nigeria’s economic problems, which he attributed to government policy rather than cryptocurrency activities.

The Head of Financial Crime Compliance at Binance, Tigran Gambaryan, has publicly denied the Central Bank of Nigeria’s allegations that $26 billion flowed out of Nigeria through Binance. He asserted that this figure misrepresented cumulative trading volumes on the platform rather than actual fund transfers. Gambaryan criticized the CBN’s claims as misleading, emphasizing that frequent cryptocurrency trades do not represent money leaving the country but rather local transactions.

In summary, Tigran Gambaryan’s statements challenge the Central Bank of Nigeria’s assertions regarding financial misconduct linked to Binance. He highlighted that the reported $26 billion merely reflects trade volume and not an outflow of funds. Furthermore, Gambaryan criticized the CBN’s scapegoating of Binance for Nigeria’s broader economic issues, which stem from government monetary policy decisions.

Original Source: punchng.com