Gensler Was Once Approached by Binance to Serve as an Advisor

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Last Updated on March 6, 2023 by Bitfinsider

According to the WSJ, Binance once sought to employ Gary Gensler as an adviser years before he was appointed chairman of the Securities and Exchange Commission.

The Journal, who quoted a large number of messages among Binance staff members, reported that Gensler declined. When Gensler was a professor at the Massachusetts Institute of Technology in 2018 and 2019, attempts were made to bring him on board.

In support of those efforts, Gensler, Harry Zhou, and Ella Zhang, the former director of Binance’s venture arm, met in October 2018. According to the Journal, Zhou at the time worked for a business that was backed by Binance.

Zhou at the time wrote in a chat message: “I observe that while Gensler declined advisor-ship, he was generous in sharing license strategies,” according to the Journal.

Other members of the American government, such as former senator Max Baucus of Montana, have served as advisors for Binance in the past.

The report centers on the bond between Binance and Binance.US, its US-based subsidiary. U.S. regulators, especially the SEC, have been investigating that connection.

Three U.S. senators requested more information about Binance, Binance.US, and their working partnership in a letter last week.

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