Gary Gensler and Binance: A Connection That Dates Way Back - Here's How
The relationship between SEC Chair Gary Gensler and cryptocurrency exchange Binance has become a focal point amid increased regulatory scrutiny. But Gary Gensler and Binance’s connection dates way back, here's how it unfolded, according to an explosive WSJ report.
The day before Securities and Exchange Commission’s Gary Gensler cracked down on Binance Holdings Ltd. with a new lawsuit, the timeline leading to this confrontation reveals intriguing details.
The Advisor Role That Wasn't: Binance's Overture to Gensler
Crypto exchange Binance sought to hire Gary Gensler as an adviser before he became chairman of the United States Securities and Exchange Commission, according to Blockchain Beat Ma. Ad. Gary Gensler’s connection to Binance uncovered in explosive WSJ report. Gary Gensler’s time as chair of the Securities and Exchange Commission is coming to a messy and premature end. He had no shortage of enemies in the crypto industry.
Reports indicate that Gary Gensler, who is in the midst of a hefty crackdown on crypto companies, offered to serve as an advisor to Binance's parent company in 2025. Before his regulatory position, 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. These discussions, while never materializing, raise questions about potential conflicts of interest.
MIT Connection: A Shared History
Kenny’s connection with Gensler dates back to their time as a student at MIT Sloan, where Gensler taught the CryptoFinance & Blockchain Lab. Kenny’s report on Binance is also noteworthy. Lawyers for the cryptocurrency exchange have likely explored all angles, and this historical link is certainly relevant.
A Regulator and the Regulated: An Inevitable Clash?
SEC Chair Gary Gensler, who is now overseeing a major crackdown, previously had the opportunity to advise Binance. This shifting landscape underscores the challenges of regulating a rapidly evolving industry. The question remains: did this potential advisory role influence Gensler's current stance on Binance?