Binance Lawyers Claim Gensler Offered to be Company Advisor

  • 📰 Crypto_Potato
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

⚠️ GaryGensler offered to be binance's company advisor! According to lawyers representing the exchange, this happened before Gensler became SEC Chair. Read the full story here -

At the time, Gary Gensler was teaching at Massachusetts Institute of Technology’s Sloan School of Management.This is when he famously told students in 2018 that most of the crypto market was not securities. “Three-quarters of the market is non-securities. It is just a commodity, a cash crypto,” he said at the time.According to Binance lawyers, Gensler was “trying to cozy up to the company” before he unleashed his attack on the firm and its chief executive.

Gensler has been on the warpath this year, with his ultimate goal to crush crypto in the United States. Earlier this week, he said that America doesn’t need digital assets because it has the dollar. The SEC has also ordered the freezing of all Binance.US assets to prevent flights offshore. Industry experts have noted the irony in that by trying to “protect investors,” the SEC has actually caused them to lose millions.by a U.S. court this week, however, not being a U.S. citizen means that he doesn’t have to appear in person.Since the enforcement action earlier this week, BNB prices have lost around 16%. The asset had dropped 7% on the day in a fall to $260 at the time of writing.

However, BNB is still faring much better than many other cryptocurrencies have dropped just 62% from its peak price. Ripple’s XRP by comparison is down 85% from its all-time high as the firm is also in a battle with the SEC.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 568. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019Years before he began taking on Binance as head of the SEC, Gary Gensler offered to advise the company, according to the crypto exchange's lawyers.
Source: CNBC - 🏆 12. / 72 Read more »