Cointime

Cointime

Download App
iOS & Android

Binance Tried to Hire SEC Chair Gary Gensler to Be an Adviser: WSJ

Cointime Official

According to a report by the Wall Street Journal on Sunday, Binance, which is among the biggest cryptocurrency exchanges globally, created a strategy to prevent the risk of prosecution by U.S. regulators by launching a U.S. subsidiary in 2019. As part of the plan, Binance tried to hire Gary Gensler as an advisor.

The Wall Street Journal reviewed messages and documents from 2018 to 2020 and interviewed former Binance employees, then found Binance tried to hire Gary Gensler in 2018 for closer ties with U.S. regulators before he became Chairman of the United States Securities and Exchange Commission (SEC).

WSJ has seen messages from Binance's executives that suggest Ella Zhang, who was then in charge of Binance's venture investing division, and Harry Zhou, the co-founder of Koi Trading, a firm invested in by Binance, met with Gensler in October 2018. Following Gensler's rejection of the advisory role, Zhou stated in the chat that "I observe that while Gensler declined advisor-ship, he was generous in sharing license strategies." A Binance employee indicated that Gensler would probably return to a regulatory position if the Democrats won the 2020 election.

From 2018 to 2021, Gary Gensler was approached by several private companies, including Binance, to act as an advisor, which he turned down. The person also said that Mr. Gensler met with Binance's founder in Tokyo in March 2019 and conducted a video interview during the following summer for a cryptocurrency course at MIT. Mr. Gensler assumed the role of SEC chair in April 2021.

In previous reports, the SEC has been investigating the connection between Binance.US and two trading firms, namely Merit Peak Ltd. and Sigma Chain AG, which have links to Binance CEO Changpeng Zhao.

Two days ago, an SEC official said he hold the view that Binance.US is conducting an unregistered securities exchange in the United States, and that the sale of VGX tokens by Voyager Digital contravened federal securities laws.

Binance Gary Gensler
Comments

All Comments

Recommended for you

  • Traders Fully Anticipate 25 Basis Point Rate Hike by Fed by End of 2026

    On May 22, market pricing indicated that traders have fully anticipated a 25 basis point rate hike by the Federal Reserve by the end of 2026. In related news, Fed Governor Waller stated that the Federal Reserve should not signal any further rate cuts and should remain inactive in the short term.

  • Spot Gold and New York Futures Gold Both Fall Below $4500

    On May 22, spot gold and New York futures gold both fell below $4500 per ounce, declining by 0.94% during the day. Traders have fully priced in a 25 basis point interest rate hike by the Federal Reserve by the end of 2026.

  • BTC Falls Below $77,000

    Market data shows that BTC has fallen below $77,000, currently priced at $76,977.52, with a 24-hour decline of 0.18%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Fed Governor Waller: Inflation Risks Mean Fed Should Not Signal Further Rate Cuts

    On May 22, Federal Reserve Governor Waller stated on Friday that, given the increasing risks of inflation, the Fed should not consider further rate cuts as a default plan. Earlier this year in January, Waller had supported rate cuts. In his speech, he noted that the ongoing conflicts in the Middle East and rising costs of oil and other commodities are increasingly likely to trigger broader persistent inflation in the economy. He emphasized that it is time for the Fed to stop signaling that the next action is likely to be another rate cut. Waller indicated that maintaining interest rates in the current range of 3.5% to 3.75% is likely the correct approach for the foreseeable future. He added, 'If inflation does not subside quickly, I cannot rule out the possibility of future rate hikes.' Waller stated that he now agrees with the view that the Fed should clearly indicate that its next rate adjustment could be either a cut or a hike.

  • Tiger Brokers Fined 308.1 Million Yuan for Illegal Cross-Border Securities Activities in China

    On May 22, Up Fintech Holding Limited (formerly Tiger Brokers) announced that on May 22, 2026, some of its subsidiaries received a notice from the Beijing Regulatory Bureau of the China Securities Regulatory Commission (CSRC). The notice indicated that the CSRC's Beijing Regulatory Bureau had launched an investigation into the subsidiaries for suspected illegal activities related to securities, funds, and futures business. The investigation found that these subsidiaries engaged in unlicensed cross-border securities activities and illegal fund and futures-related activities in mainland China. Based on the investigation results, the CSRC's Beijing Regulatory Bureau imposed a total administrative penalty of approximately 308.1 million yuan and confiscated illegal gains totaling about 103.1 million yuan. Mr. Wu Tianhua, the company's director, CEO, and actual controller, also received a warning and was fined 1.25 million yuan. As of the end of 2025, retail customer assets in mainland China accounted for about 10% of the company's total customer assets in the consolidated financial statements.

  • Tiger Brokers States Hong Kong Entity Operates Independently, CSRC Notice Not Directly Applicable

    On May 22, in response to the China Securities Regulatory Commission's (CSRC) announcement regarding the rectification of illegal cross-border securities and futures fund operations and related penalties, Wang Shan, Chief Operating Officer of Tiger Brokers (Hong Kong) Global Limited, stated that the company is aware of the relevant notice issued by the CSRC. The company clarified that the notice does not directly apply to its Hong Kong entity, which operates independently and is regulated as a licensed corporation holding a license issued by the Hong Kong Securities and Futures Commission (SFC). (21st Century Business Herald)

  • U.S. Stocks Open: Major Indices Slightly Higher

    On May 22, U.S. stocks opened with the Dow Jones Industrial Average rising by 0.58%, the S&P 500 increasing by 0.41%, and the Nasdaq up by 0.37%. The Nasdaq Golden Dragon China Index fell by 2.2%, with popular Chinese stocks generally declining; NIO Inc. (NIO.N) dropped by 7%, Baidu (BIDU.O) fell by 3%, Beike (BEKE.N) decreased by 4%, and Alibaba (BABA.N) was down by 3%.

  • Hassett Hopes Powell Will Leave the Fed Soon for Walsh to Take Control Easily

    On May 22, Kevin Hassett, Director of the National Economic Council, expressed in an interview regarding outgoing Federal Reserve Chairman Jerome Powell and incoming Chairman Kevin Walsh: "I hope he can leave soon so that Kevin can fully and easily take charge of the Fed." Hassett stated, "I hope Jay (Powell) can step aside so we can arrange for another governor to join the Federal Reserve." He also reiterated, "We absolutely respect the independence of the Federal Reserve."

  • U.S. Stock Index Futures Rise Sharply, S&P 500 Futures Up 0.4%

    U.S. stock index futures have risen sharply in the short term, with S&P 500 futures up 0.4%.

  • BlackRock Transfers 1,587 BTC and 17,815 ETH to Coinbase

    On May 22, according to OnchainLens monitoring, BlackRock transferred 1,587 BTC, valued at approximately $122.55 million, and 17,815 ETH, valued at approximately $37.79 million, to Coinbase.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company