A Nigerian court rejected a bail application on health grounds Friday for a Binance Holdings Ltd. executive standing trial on allegations of money laundering and currency manipulation.

Binance's head of financial crime compliance was denied bail for a second time on Friday as his trial on money laundering charges started in Nigeria, with a judge ruling that the prison in which he is being held is capable of meeting his medical needs.

Binance executive Tigran Gambaryan will reportedly remain imprisoned in Nigeria after a judge denied his request to post bail.

Binance issued a statement following the Nigerian government's decision to deny Binance executive's Tigran Gambaryan bail.

Binance executive Tigran Gambaryan was been denied bail, "despite him meeting all the requirements" for medical reasons, his family said.

Binance's head of financial compliance was denied bail for a second time on Friday as his trial on money laundering charges started in Nigeria, with a judge ruling that the prison in which he is being held is capable of meeting his medical needs.

A Nigerian court on Friday rejected a bail application on health grounds for a Binance Holdings Ltd. executive standing trial on allegations of money laundering and currency manipulation, while instructing the prison to refer him to hospital for treatment.

A Nigerian court based in Abuja has denied a bail plea from a Binance executive who was arrested in February for money laundering allegations. The executive filed a bail plea to the court on his ill health,

Tigran Gambaryan, Binance's head of financial crime compliance, has been detained in Nigeria since February. ・Nigerian court denies bail request for Binance executive on health grounds. ・Tigran Gambaryan,