Lawyers for Binance have alleged that Securities and Exchange Commission Chair Gary Gensler offered to serve as an informal advisor to the company, according to a letter sent to the SEC on June 4—just days before the agency filed a blockbuster lawsuit against the crypto exchange.
"We again raise our concerns—which the staff has never addressed or even acknowledged—regarding Chairman Gensler’s personal history with BHL [Binance] and Mr. Zhao," wrote lawyers from Latham & Watkins and Gibson, Dunn & Crutcher, referencing Changpeng Zhao, the founder and CEO of Binance.
