SEC Chair Gary Gensler's offer to serve as an advisor to Binance's parent company in 2019 has come to light, as revealed by lawyers representing Binance and its founder, Changpeng Zhao. Legal representatives for Binance, including Gibson Dunn and Latham & Watkins, have claimed in SEC filings that Gensler met with Binance executives and Zhao in March 2019. According to the complaint, Gensler again met with Zhao for lunch later that month in Japan.

Gensler was a professor at the Sloan School of Management at MIT at the time. In 2021, he was appointed as the head of the SEC by President Biden and has since been involved in a vigorous crackdown on the crypto industry, filing lawsuits against numerous companies for selling unregistered securities.



The recent filing by Binance's lawyers suggests that Gensler had sought a closer relationship with the company before initiating regulatory actions against it. This revelation raises questions about potential conflicts of interest in the SEC's and Gensler's approach towards Binance.



The attorneys for Binance claim that they asked Gensler to step aside from any matters involving the company because of his purported ties to Zhao. But they claim to have heard nothing back from SEC personnel after submitting their request.



The SEC's investigations into Binance and Binance.US began in 2020 and 2021, respectively, well after the alleged contact between Gensler and Zhao. The timing of these investigations suggests that they were initiated without any direct influence from Gensler's previous interactions with Binance.



SEC Chair Gary Gensler's offer to serve as an advisor to Binance's parent company in 2019 has come to light, as revealed by lawyers representing Binance and its founder, Changpeng Zhao. Legal representatives for Binance, including Gibson Dunn and Latham & Watkins, have claimed in SEC filings that Gensler met with Binance executives and Zhao in March 2019. According to the complaint, Gensler again met with Zhao for lunch later that month in Japan.

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Wed Jul 19 2023 SEC Chair Gensler Offered To Advise Binance In 2019

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Wed Jul 19 2023

SEC Chair Gensler Offered To Advise Binance In 2019