Years before serving as head of the SEC, Gary Gensler provided his consulting services to Binance, Binance’s attorney alleges.
SEC Chairman Gary Gensler once offered to advise Binance, lawyers representing Binance and CZ allege.
As reported by CNBC June 7, documents filed by the SEC on June 7 show that attorneys from Gibson & Dunn and Latham & Watkins alleged Gary Gensler offered to serve as advisors to Binance in October. 3, 2019.
However, an earlier report from The Wall Street Journal in March suggested that Binance did indeed approach Gensler for the first time in 2018 for an advisory role.
According to The Wall Street Journal, citing messages and documents from 2018 to 2020, Ella Zhang, who was then head of venture capital at Binance, and Harry Zhou, co-founder of Koi Trading. invested by Binance, met Gensler for the first time in October 2018 to offer him a position as a Binance advisor. Gensler later turned down the offer.
In addition, the report claims many private companies approached Gensler for mentorship while teaching at MIT, but he turned down all offers.
US President Joe Biden nominated Gary Gensler to chair the US Securities and Exchange Commission in February 2021 and was subsequently sworn in on April 17, 2021.
Prior to joining the SEC, he was a professor of Global Management and Economic Practice at the MIT Sloan School of Management. From 2017 to 2019, he served as chairman of the Maryland Financial Consumer Protection Commission.
As Cointelegraph reported, the SEC sued Binance on June 5 for violating US securities laws.
On June 7, Binance sent out a notice through Chinese social media channels claiming that the exchange is radically different from other crypto exchanges amid regulatory actions. strengthen against himself.
In the statement, Binance said its wallet addresses are transparent and that the exchange never withdraws consumer funds. In addition, Binance says it has never made a large donation to political candidates nor has it made a large donation to entertainment and media organizations .
On the same day, CZ sparked controversy on Twitter , pointing out that the SEC has never sued FTX, despite Gary Gensler claiming there are many “similarities” between the two exchanges in an interview.
