Binance Considered Tapping Gensler's Expertise as an Advisor: Report Reveals Prior Overtures
Recent reports suggest Binance considered hiring Gary Gensler, now SEC Chair, as an advisor prior to his appointment. This revelation comes amidst ongoing legal battles between Binance and the U.S. Securities and Exchange Commission (SEC).
The U.S. Securities and Exchange Commission (SEC) sued Binance over alleged securities violations on June 5. Now, attention turns to past interactions between the exchange and its current regulator.
According to a recent report from the WSJ, it has come to light that Binance had considered hiring Gensler as an adviser. Although news outlets previously reported that Binance attempted to recruit Gensler prior to him assuming the SEC chairman position, the lawyers allege that Gensler proactively offered his services.
Documents filed by SEC on June 7, allege a more direct approach. Attorneys from Gibson & Dunn and Latham & Watkins detailed these interactions, suggesting Gensler met CZ, offered to act as Binance advisor.
A key element of these reports focuses on Gary Gensler's perceived understanding of the evolving cryptocurrency landscape. In a prior life, now Securities and Exchange Commission Chair Gary Gensler acknowledged the regulatory uncertainty around cryptocurrency and offered to serve as an advisor to the exchange, potentially providing guidance navigating those complexities.
Recently CNBC reported that Gary Gensler approached the Binance exchange in 2025 to work for Binance as an advisor. The report uncovered this information on documents related to the SEC case. According to the documents filed by SEC on June 7, attorneys from Gibson & Dunn and Latham & Watkins alleged that Gensler offered to serve as an advisor to the exchange. It remains a point of contention whether the initiative came from Binance or Gensler himself, shaping the narrative surrounding potential conflicts of interest.
The timing and nature of these alleged overtures are crucial, especially considering the ongoing SEC lawsuit. The documents suggest Gensler met CZ, offered to act as Binance advisor. The implications of these past interactions on the current regulatory landscape are being closely examined.