Gensler Allegedly Offered Advisory Role to Binance in 2019
Shocking revelations have surfaced regarding SEC Chair Gensler, who has been actively targeting crypto companies. It is alleged that Gensler offered advisory services to Binance’s parent company back in 2019. Lawyers representing Binance and CEO CZ have uncovered intriguing details surrounding this matter.
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Newly filed documents reveal conversations between Gensler and Binance executives suggesting the potential for an advisory role. Notably, a lunch meeting between Gensler and CZ took place in Japan, indicating Gensler’s initial attempts to establish a closer relationship with Binance.
The Wall Street Journal previously highlighted this connection, citing internal Binance messages and sources close to Gensler, suggesting that Binance made the initial approach.
During the mentioned period, Gensler was a professor at the Massachusetts Institute of Technology’s Sloan School of Management. In 2021, he assumed the position of SEC Chair and subsequently took a stringent stance against the crypto industry, filing lawsuits against several companies for alleged violations related to selling unregistered securities.
Recently, the SEC filed 13 charges against Binance and Zhao, accusing them of failures to register as an exchange and broker-dealer, improper commingling of funds, and lacking necessary internal controls.
Although the SEC’s investigations into Binance US and Binance began in 2020 and 2021, respectively, well after Gensler and Zhao’s alleged last contact, these revelations add an intriguing twist to the ongoing regulatory saga.
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