Binance Reportedly Wanted to Hire Gary Gensler in 2018
The Wall Street Journal has reported that cryptocurrency exchange Binance tried to hire Gary Gensler in 2018 as an advisor prior to his taking over the US Securities and Exchange Commission (SEC).
According to the investigation, Binance twice offered Gensler a job, which he declined. Ella Zhang, head of Binance VC, wrote in a work chat that Gensler had been “willing to share his licensing strategies” despite declining the offer.
Gensler was eventually named SEC chairman in 2021, and according to media reports had received job offers from several other private companies.
Documents were also found that detailed the relationship between Binance and its US subsidiary, as executives had taken steps to reduce regulatory scrutiny and created a separate US-based company.
Binance commented to Cointelegraph that both companies have the same ultimate beneficial owner, and that they “did not have proper controls” in the early years, but now have a strict adherence to compliance.
