TechFlow news on June 8 — According to CNBC, documents filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday revealed that lawyers from Gibson Dunn and Latham & Watkins, two law firms representing Binance, claimed SEC Chair Gary Gensler had proposed serving as an advisor to the exchange during several conversations in March 2019 with Binance executives and CZ. Later that month, he had lunch with CZ in Japan. At the time, Gensler was teaching at MIT’s Sloan School of Management.
Due to Gensler’s prior direct contact with CZ, Binance’s attorneys stated they have requested that Gensler recuse himself from any actions involving the company. An SEC spokesperson said in a statement to CNBC: “The Chair is very familiar with and fully complies with his ethical obligations, including any recusal requirements.”
However, according to a March report by The Wall Street Journal, it was Binance staff who initially reached out to current SEC Chair Gary Gensler in 2018 and 2019, seeking for him to become an advisor.
