WSJ Reports Binance Tried to Hire Gensler

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ong before he became chairman of the United States Securities and Exchange Commission, Binance sought to enlist Gary Gensler as an advisor, a recent Wall Street Journal report revealed. As one of the world’s leading crypto exchanges, Binance recognized Mr. Gensler's experience and expertise in financial regulation prior to his tenure at the SEC.

As reported by The Journal, Gensler rejected the offer to join Binance according to messages shared amongst its staff. Apparently this proposal occurred during 2018 and 2019 when Gensler was teaching at Massachusetts Institute of Technology.

The meeting between Gensler, former Binance venture arm head Ella Zhang and Harry Zhou in October 2018 is an example of the collaborative efforts to make this happen. At that time, Zhou worked for a company funded by Binance according to reports from The Wall Street Journal.

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

Binance has been utilizing the expertise of U.S. government officials, such as ex-Senator Max Baucus of Montana, to aid them in their endeavours and strategies.

The Wall Street Journal's article delves into the connection between Binance, a crypto-exchange platform, and its associate in the United States—Binance.US. This relationship has been under extreme observation from government bodies such as the Securities Exchange Commission (SEC).

Just last week, three U.S. senators sent a letter with the purpose of gathering further information regarding Binance, Binance.US and their affiliation between one another.

Mike

An editor at Coincrop

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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.