Court filings: Binance's lawyers allege SEC Chair Gary Gensler offered to be an advisor to the company in March 2019 when he was teaching at MIT Sloan
- According to a new filing from Binance's lawyers, SEC Chair Gary Gensler offered to be an advisor to the crypto exchange in 2019.
CNBC Rohan Goswami
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Discussion
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@marionawfal
Mario Nawfal
on x
🚨BREAKING: SEC's Gary Gensler applied to serve as an advisor for Binance in 2019 So... 2019: He applies to become an advisor to Binance 2019: He is rejected (my guess) 2021: He becomes the SEC's chairman 2022: Says that Binance “is operating illegally in the US” 2023: SEC... http…
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@fintechfrank
Frank Chaparro
on x
Wow Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019
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@nelsonrangel
Nelson Rangel
on x
This man is unfit to be SEC chair, not only has he done a poor job with his regulation by enforcement approach, the conflict of interest is MASSIVE after this news. A new SEC chair needs to be brought in with a fresh approach to crypto regulation for U.S. based companies. $COIN h…
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@johnedeaton1
John E Deaton
on x
I've watched and fought bullies my entire life. Gensler is the quintessential bully. He's the boy who didn't get picked to play the first full court basketball game so he took his 🏀 and left. I've talked to people who've been in the room with him and he insists on showing... http…
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@gurgavin
@gurgavin
on x
GARY GENSLER AFTER BINANCE DID NOT HIRE HIM LOL [image]
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@hsakatrades
@hsakatrades
on x
“Before Gensler started going after Binance, he was trying to cozy up to the company, offering to serve as an advisor.” Ran the same playbook with FTX, the goblin obliged, and he turned a blind eye there. Binance rejected him, he went full schizo mode. https://www.cnbc.com/...
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@fintechfrank
Frank Chaparro
on x
WSJ reported in March that Binance approached Gensler about an advisory role Binance lawyers in a filing today says Gensler approached them in 2019 Really important that we get clarity around this asap.
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@scottmelker
@scottmelker
on x
Binance should share Gary Gensler's resume, would love to see his listed hobbies.
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@coinbureau
@coinbureau
on x
The plot thickens 👀 [image]
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@metalawman
@metalawman
on x
I would suggest that @GaryGensler block some time on his calendar to sit for depositions—for the next DECADE. I have never seen an SEC Chair this mixed up in the underlying facts of cases brought by the SEC. Nothing close. https://twitter.com/...
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@laurashin
Laura Shin
on x
Omg 😮 “In March, the Wall Street Journal reported that ‘Gensler was approached by multiple private firms including Binance to be an adviser’ but this new letter makes it appear that Gensler himself pitched Binance on the idea.” https://twitter.com/...
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@ap_abacus
Andrew
on x
If you think Gensler cares about the “2019 almost Binance advisor role” news... ...then you don't understand the game being played here. **how many times has ‘friendly media’ (CNBC, Bloomberg) asked him about Sam and FTX? Nearly zero. **it's a big club, and they don't want... htt…
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@cryptojellenl
Jelle
on x
If this is true, Gensler wanted to work with Binance, was rejected and is now trying to destroy as much as he can. Looks like he knows a thing or two about revenge trading lol https://www.cnbc.com/...
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@colinwilhelm
Colin Wilhelm
on x
The SEC alleges Binance and BinanceUS redirected over $12B in customer assets to funds controlled by @cz_binance. That's $4B more than SBF's accused of taking out of FTX for Alameda. Most of the funds went to an entity that paid BUSD issuer Paxos. https://www.theblock.co/...
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@smdiehl
Stephen Diehl
on x
The DOJ is probably now sitting on a mountain of evidence concerning offshore crypto exchanges and criminal activity. It's pretty clear there was a massive coordinated campaign to deceive US lawmakers. And that can't stand. https://www.bloomberg.com/...
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@allyversprille
Ally Versprille
on x
.@SenWarren and @ChrisVanHollen have asked DOJ to investigate whether Binance made false statements to Congress when it said its global business and US-based business were independent of each other. [image]
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@silvermanjacob
Jacob Silverman
on x
CZ was listed as the beneficial owner on the Silvergate bank account for Binance Holdings Limited, which has an address in Grand Cayman. CZ's address is a resort town in Malta. [image]
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@dogetoshi
Steven
on x
Not great if true [image]
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@colinwilhelm
Colin Wilhelm
on x
Statement from Paxos spox: https://twitter.com/... [image]
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@colinwilhelm
Colin Wilhelm
on x
The SEC has bank records for the companies. They also have a non public report from BinanceUS' auditor from say year saying that it was difficult to tell if BinanceUS has enough collateral. Because the collateral was kept offshore with Binance.
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@rezoshm
@rezoshm
on x
Def not good if true - basically very similar to what FTX & SBF did. Hopefully this is not true. https://twitter.com/...
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@bennetttomlin
Bennett Tomlin
on x
lol Binance US had funds at Silicon Valley Bank, Silvergate, and Signature. That's an impressive run.
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@mattgoldstein26
Matthew Goldstein
on x
Did Binance find bank enablers in Signature and Silvergate — two failed lenders? story by @flitteronfraud and me https://www.nytimes.com/...
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@tomdwan
Tom Dwan
on x
I've learned to generally trust federal courts in these spots. They are imperfect, but quite robust and hard to influence, and they deeply institutionally value honesty. Curious what the judge ends up deciding and saying here. Serious accusations from SEC https://twitter.com/...
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@silvermanjacob
Jacob Silverman
on x
From SEC filings: CZ made Sigma Chain (which he owns) the market maker/wash trader for BinanceUS. Sigma engaged in widespread wash trading. [image]
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@bitfinexed
@bitfinexed
on x
OMG OMG OMG OMG OMG [image]
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@fintechfrank
Frank Chaparro
on x
Her name was Catherine Coley
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@mikeburgersburg
@mikeburgersburg
on x
Catherine Coley has entered the chat https://twitter.com/...
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@emilyjnicolle
Emily Nicolle
on x
Brooks says CZ funded Binance US's launch with an initial $10m. at some point, he said CZ's control became so apparent and had stopped him from executing key changes that Brooks questioned who was the real CEO of the US company https://www.bloomberg.com/...
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@silvermanjacob
Jacob Silverman
on x
A lot of exhibits filed yesterday in SEC v. Binance. This one could be important. An excerpt from testimony given to investigators by Catherine Coley, the former CEO of BinanceUS. She hasn't been heard from since leaving her job. https://storage.courtlistener.com/ ... [image]
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@masterbtcltc
Shan Belew
on x
🤔 I wonder if Catherine Coley was an informant? https://www.cnbc.com/...
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@cameron_dennis_
@cameron_dennis_
on x
I was always very curious what happened to Catherine Coley as she was always such a bright light for the industry. When she dropped off the face of the earth, I thought she got got but now it's all starting to make sense. I hope she's okay
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@emilyjnicolle
Emily Nicolle
on x
Coley says Binance US launched using resources and personnel from the main .com entity in China, making it hard to hire local engineering staff because most of its codebase was written in Chinese https://www.bloomberg.com/...
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@scottmelker
@scottmelker
on x
Catherine Coley was the first guest on my podcast ever. I hope she comes back soon. https://www.bloomberg.com/...