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Mr Tigran Gambaryan, an executive of cryptocurrency firm Binance Holdings Limited, standing trial alongside the company in Nigeria, may die in Kuje Correctional Centre, Aluko & Oyebode and Co., the law firm representing him in the case has said.

Gambaryan is facing a money laundering charge.

SaharaReporters earlier reported that Gambaryan slumped in a Federal High Court in Abuja on Thursday.

The drama occurred shortly after the matter was called for trial continuation before Justice Emeka Nwite.

However, the law firm in a letter addressed to the Deputy Chief Registrar of the Federal High Court (FHC) and signed by a Partner, C.J. Caleb said the suspect may die of malaria in Kuje Correctional Centre.

The letter dated and filed on May 23, which was obtained by NAN, was titled: Re: Charge No: FHC/ABJ/CR/128/2024 Application for the Provision of Medical Treatment to Mr. Tigran Gambrayan at Nizamiye Hospital.

The lawyer, therefore, raised the alarm over Gambaryans continued stay in the correctional facility, expressing fear for his life amid his alleged deteriorating health.

Caleb said: We continue to act as counsel to Mr. Tigran Gambaryan, the 2nd defendant in the captioned suit pending before the Honourable Justice E. Nwite sitting at Court 9 of the Federal High Court, Abuja.

"Gambaryan, the Head of Financial Crimes Compliance of the cryptocurrency platform, broke down on Wednesday (May 22) in prison and was administered with Intravenous (IV) treatment for malaria by the medical personnel.

Please be informed that the 2nd defendant, who is an American citizen and remanded at the Kuje Medium Correctional Facility is very ill and requires comprehensive medical attention at the best available hospital within the jurisdiction of this honourable court.

The applicant broke down yesterday and the medical facility gave him Intravenous (IV) treatment for malaria.

The Consul Officer at the United States Consul Office in Abuja, emphasised the need for the applicant to receive comprehensive treatment because malaria is a severe disease for American citizens which can result in death because they do not have the immunity that ordinary Nigerians have against the disease.

Caleb said the defendant equally suffered from throat infection and added that the Kuje Medium Correctional Facility is currently undergoing renovation works.

He said given the situation, the suspect should be transferred to Nizayime Hospital, Abuja, to receive comprehensive diagnoses and treatment for the preservation of his Iife.

Original post:

'Binance Executive Gambaryan Remanded In Kuje Prison Seriously Ill, May Die Of Malaria', Lawyer Appeals To Court - SaharaReporters.com

Binance Announces Leverage and Margin Tier Updates

According to an official announcement from Binance, the platform will be updating the leverage and margin tiers for several USD-M and COIN-M Perpetual Contracts. This update is scheduled to take place on May 28, 2024, at 10:30 (UTC). The changes are expected to be implemented within approximately 30 minutes.

Binance has reassured its users that existing positions opened before the update will not be affected. This move aims to optimize the trading experience for users and ensure a more balanced trading environment.

The specific changes to the leverage and margin tiers have not been disclosed in the announcement. However, traders can expect detailed information to be made available on Binances official channels. For those interested in the exact adjustments, Binance advises checking their official announcement page.

The update follows Binance's ongoing efforts to enhance the trading experience on its platform. The company regularly updates its contract specifications to adapt to market conditions and user feedback. This ensures that traders have access to the most competitive and secure trading environment possible.

Binance has issued a disclaimer, highlighting the risks associated with digital asset trading. The platform emphasizes that digital asset prices can be highly volatile, and the value of investments may fluctuate. Traders are reminded that they are responsible for their investment decisions and that Binance is not liable for any losses incurred.

Futures trading, in particular, carries high market risk and price volatility. Traders may be required to make additional margin deposits or interest payments at short notice. Failure to meet these requirements could result in the liquidation of collateral without consent. Binance advises all users to perform an independent assessment of the appropriateness of their trading activities in light of their own objectives and circumstances.

For more detailed information, traders can visit Binances Responsible Trading page. Additional terms and risk warnings can be found on Binances Terms of Use and Risk Warning pages.

Binance reserves the right to amend or cancel this announcement at any time and for any reason without prior notice. Users are encouraged to stay updated with the latest information by following Binances official channels.

For those who prefer to trade on-the-go, Binance offers a crypto trading app available for both iOS and Android devices. More details can be found on Binances official website.

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Binance Futures to Update Leverage & Margin Tiers for USDS-M and COIN-M Perpetual Contracts - Blockchain.News

Today seems to be the time to decide about the Ethereum ETF. (The cryptocurrency market may get excited when the result is announced, so be careful with your positions).

Let's take a look at what happened to Bitcoin when the Bitcoin ETF was adopted.

When the Bitcoin ETF was approved, Bitcoin corrected about 20% and this correction lasted about 12 days. This happened seemed to express the proverb, "Buy the Rumor, Sell the News".

Now let's check the Ethereum chart.

Ethereum has managed to break the Heavy Resistance zone (now the Heavy Support zone($3,580-$2,930)) of Ethereum with the help of the Classic Falling Wedge Pattern. It is currently moving near the Resistance zone($4,380-$3,950).

According to the Elliott wave theory, Ethereum seems completed the microwave 3 of main wave 3. Ethereum seems to be completing microwave 4 of the main wave 3 right now.

Let's look at the ETHBTC chart and see how much Ethereum will be affected by the growth or decline of the cryptocurrency market.

ETHBTC seems to be trying to break the important Resistance line and Resistance zone, and this is a good sign for Ethereum and most altcoins. If the cryptocurrency market starts to increase, it seems that Ethereum will get a larger share of this increase. It could be a sign for Altseason.

But right now it seems that ETHBTC should have a correction to the Support zone or Fibonacci lines.

If you want to open a position on Ethereum, it is better to have a short position, because if Ethereum ETF is approved, the same scenario as Bitcoin may happen to it, and if it is not approved, the possibility of a fall is very very high, so the risk of a short position may be less now. What is your idea

Note: If the Ethereum ETF is not approved, you better wait because Ethereum is likely to lose the Heavy Support zone($3,580-$2,930), and this shock will also affect Bitcoin and other Tokens.

Note: An important point you should always remember is capital management and lack of greed.

Ethereum Analyze ( ETHUSDT ), 4-hour time frame .

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.

Please do not forget the ' like' button & Share it with your friends; thanks, and Trade safe.

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Everything You need to Know about Ethereum ETF for BINANCE:ETHUSDT by pejman_zwin - TradingView

Binance executive Tigran Gambaryan was hospitalised Thursday after fainting in a courtoom in Abuja, Nigeria, during his money laundering trial, DL News has learned.

Justice Emeka Nwite directed Nigerias prison authorities to take Gambaryan to Nizayime Hospital, an upscale private medical facility in Abuja for treatment, according to a person familiar with the order.

Meanwhile, Yuki Gambaryan, the wife of the jailed Binance man, lambasted Nigerian authorities for incarcerating and mistreating her husband.

The conditions in the notorious Kuje Prison are, in a word, devastating.

Yesterday, despite numerous signs of severe illness, my husband was still required to appear in court, where he later collapsed, Yuki said in a statement sent to DL News.

The conditions in the notorious Kuje Prison are, in a word, devastating, Yuki said, referring to the facility where Tigran has been held for the last seven weeks while he is being tried on a money laundering charge.

My husband is a strong, healthy person but he is facing an environment that would bring even the strongest among us to our knees.

On Thursday, Gambaryan, 40, Binances US-based head of financial crime compliance, fainted as he stepped into the dock to face charges he engaged in a $35 million money laundering scheme with his employer.

Gambaryan has been incarcerated in Kuje Prison since April 8 after pleading not guilty to the money laundering charge filed by Nigerias Economic and Financial Crimes Commission.

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On May 17, the opening day of his trial, a judge denied Gambaryan bail on the grounds he is a flight risk.

Kuje Prison is a pre-trial detention facility in Abuja, Nigerias capital, notorious for holding suspected Boko Haram and Islamic State terrorists.

Even as one of Gambaryans lawyers assisted him on Thursday, his lead lawyer, Mark Mordi, pleaded with the court to provide urgent medical care for the Binance executive.

Gambaryans next court appearance is slated for June 14 when he will be arraigned on tax violation charges filed by Nigerias Federal Inland Revenue Service. Thats a separate criminal indictment from the EFCCs money laundering case.

His money laundering trial has been postponed until June 20.

Gambaryans travails began when he was detained on February 26 after a meeting with Nigerian officials to settle a regulatory dispute regarding Binances impact on the nations troubled currency, the naira.

He was detained alongside Nadeem Anjarwalla, Binances regional manager based in Kenya when they both refused to hand over customer information of the companys Nigerian users.

Anjarwalla, a British lawyer, escaped detention a month later with a Kenyan passport and is the target of an Interpol red notice.

With Anjarwalla in the wind, Nigerias government has tightened its grip on Gambaryan with prosecutors saying they must do so because Binance has no face in Nigeria.

However, Gambaryans lawyers have countered this stance describing their clients ordeal as state-sanctioned hostage-taking.

Gambaryans family also appealed for his release amid his current health crisis.

This punitive punishment against Tigran in an effort to target his employer has gone on long enough, Yuki said. My husband is sick, he needs help.

Please show some sense of humanity.

Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at osato@dlnews.com.

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Binance exec is hospitalised as spouse decries 'unjust detention' following collapse in Nigerian courtroom - DLNews

Binance Announces Support for Neo Network Upgrade and Hard Fork

As per a recent announcement by Binance, the world's largest cryptocurrency exchange by trading volume, it will be supporting the Neo (NEO) network upgrade and hard fork. The upgrade and fork are expected to improve the overall user experience on the Neo network. The announcement was made on Binance's official site on May 24, 2024, according to Binance.

Starting from approximately 05:00 (UTC) on May 27, 2024, Binance will suspend the deposits and withdrawals of tokens on the Neo network during the upgrade and fork. However, the trading of tokens on the network will not be impacted. Binance assures that it will handle all technical requirements involved for all users. Deposits and withdrawals will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted about the reopening of these services.

The network upgrade and hard fork will take place at the block height of 5,450,000. For more information about the upgrade and fork, users can refer to the announcement from the project team. Binance thanks its users for their support during this time.

Binance, being a leading player in the crypto space, continues to provide support for significant events in various crypto networks. The support for the Neo network upgrade and hard fork is another example of this. It is essential for users of the Neo network to be aware of the temporary suspension of deposits and withdrawals and to make necessary arrangements.

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Binance to Support Neo (NEO) Network Upgrade and Hard Fork - Blockchain News