Tigran Gambaryan, Head of Financial Crime Compliance at Binance, has announced his departure from the world’s largest crypto exchange. After four years of leading efforts to combat illicit finance and cybercrime, Gambaryan made his exit public via a LinkedIn post on Friday. He noted his intention to seek new roles in either the public sector or within mission-driven private organizations.
Transition After Turbulent Tenure
Gambaryan’s departure comes just months after his high-profile detainment in Nigeria, where he was held for eight months under controversial circumstances. A former agent of the U.S. Internal Revenue Service (IRS), Gambaryan joined Binance in 2021 and quickly became central to its efforts to strengthen compliance. Reflecting on his time at the exchange, he stated, “I’ve done all that I can at Binance, and need to refocus my time and efforts towards new challenges.”
Compliance Overhaul and Law Enforcement Engagement
During his tenure, Gambaryan played a pivotal role in overhauling Binance’s compliance infrastructure. He built a team of around 100 professionals, including former prosecutors and federal agents, to align the exchange’s practices with U.S. and international enforcement standards. Under his leadership, Binance processed more than 57,000 law enforcement requests, signaling a shift toward regulatory cooperation during a period of intense global scrutiny.
Wider Executive Exodus
Gambaryan’s exit is part of a broader trend of leadership changes at Binance. In 2023, founder and CEO Changpeng “CZ” Zhao resigned as part of a plea agreement with U.S. authorities over violations of anti-money laundering laws and sanctions regulations. That resignation was followed by the departure of several other top executives, including Chief Strategy Officer Patrick Hillmann and Compliance SVP Steven Christie.
Ongoing Challenges for Binance
Over the past two years, at least 16 senior leaders have left Binance, raising questions about the company’s long-term direction amid mounting regulatory pressures. Gambaryan’s departure underscores the complex environment Binance continues to operate in as it works to regain trust and legitimacy in key markets. While the exchange remains a dominant force in crypto by trading volume, leadership continuity has emerged as a critical concern.
As Gambaryan closes this chapter of his career, he leaves behind a legacy of advancing compliance efforts at a company often criticized for regulatory opacity. His next move, whether in government or with a socially driven enterprise, will be watched closely given his unique blend of public and private sector experience. For Binance, the departure adds another layer of uncertainty as the firm navigates a rapidly evolving global regulatory landscape.