Sources: SEC Chairman Gary Gensler proposed to serve as an advisor to Binance in 2019

ChainCatcher news states that according to two law firms from Binance, Gibson Dunn and Latham & Watkins, SEC Chairman Gary Gensler proposed to serve as an advisor to Binance in 2019 while he was a professor of global economics and management practice at the MIT Sloan School of Management. It is claimed that Gensler had multiple conversations with Binance executives and founder Changpeng Zhao before taking office at the SEC and had lunch with Zhao in Japan.

Since Gensler was appointed as the Chairman of the U.S. Securities and Exchange Commission by President Biden in 2021, the regulatory agency has been cracking down on the cryptocurrency industry, with the SEC filing lawsuits against cryptocurrency exchanges Coinbase, Bittrex, and Kraken. (source link)