SEC’s Gensler was willing to work at Binance as an advisor: Report 

A new report from CNBC media is showing a totally different picture & relationship between Binance & the current SEC chairman.

Gary Gensler is currently Chairman of the United States Securities & Exchange Commission (SEC) since Feb 2021. Before the SEC, Gensler also taught about Bitcoin & Blockchain at MIT, so it was expected that he will bring a better environment for the crypto regulation rules in America but happened totally opposite. Under the leadership of Gensler, the SEC body initiated several strict enforcement actions against the top successful & regulated crypto firms, over the last couple of years. 

Recently CNBC reported that Gary Gensler approached the Binance exchange in 2019 to work for Binance as an advisor. The report uncovered this information on behalf of a court document, submitted by Binance representative law firm Gibson & Dunn and Latham & Watkins on 7 June.

Before this, Wall Street Journal (WSJ) reported that the Binance team approached Gary Gensler in 2018 & offered an advisor position at the Binance exchange. At the time, WSJ covered the report on behalf of obtained Binance linked documents from 2018 to 2020.

The WSJ report also claimed that Gensler was approached by several private firms but in the end, Gensler chose to work at the SEC agency.

BNB price action

Few crypto investors noted that CNBC’s news on Gensler & Binance acted as a small catalyst to pump the price of Binance coin, a native but independent crypto token of Binance exchange, surged by nearly 2.5% within a few hours.

The current trade price of BNB coin is 1.19% high over the last 24 hours.

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Read Also: US Senator Cynthia says SEC's enforced regulatory approach harming Crypto investors

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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