Gensler offered to advise Binance in 2019 Lawyers claim.

Lawyers representing Binance and its founder Changpeng Zhao have alleged that Gary Gensler, the Chair of the United States Securities and Commission, once offered to serve as an adviser to Binance.

On June 7, the SEC filed documents that indicated that attorneys from Gibson & Dunn and Latham & Watkins alleged Gensler offered to serve as an adviser to the exchange in March 2019. However, a previous report from The Wall Street Journal in March indicated that Binance had actually approached Gensler first in 2018 for the adviser role.

The report claims that multiple private companies approached Gensler to serve as an advisor while teaching at MIT, but he declined all the offers. Gensler was nominated by United States President Joe Biden to chair the SEC in February 2021, and he was sworn into office on April 17, 2021.

Binance was sued by the SEC on June 5 for failing to register as a securities exchange and for allegedly operating illegally in the U.S. On June 7, Binance sent out a message declaring that it was “different” from other crypto exchanges amid the heightened regulatory actions against it.

Zhao sparked debate on Twitter when he pointed out that the SEC never sued FTX, despite Gensler claiming there were many “parallels” between the two companies in an interview.

Cointelegraph contacted the SEC for comment but did not receive an immediate response.