In recent news, the world’s largest cryptocurrency exchange, Binance, has alleged that former Commodity Futures Trading Commission (CFTC) chairman Gary Gensler offered to serve as an “informal advisor” to the company. The news comes as the cryptocurrency industry is facing increased scrutiny from regulators around the world.

The news was first reported by The Block, a cryptocurrency news outlet, which obtained an email sent by Gensler to Binance CEO Changpeng Zhao. In the email, Gensler reportedly offered to provide “informal advice” to Binance on a “pro bono basis”. Gensler also reportedly offered to help Binance with “regulatory compliance, risk management, and other related matters”.

The news has sparked debate within the cryptocurrency industry. Some have argued that Gensler’s offer is a sign that he is open to working with the industry and that it could be a positive step towards increased regulatory clarity. Others have argued that it could be seen as an attempt to influence regulators and could lead to further scrutiny of the industry.

It is unclear at this time whether Binance has accepted Gensler’s offer. However, it is clear that the offer has sparked debate within the industry and could have significant implications for the future of cryptocurrency regulation. As the industry continues to grow and evolve, it is likely that we will see increased scrutiny from regulators around the world. It remains to be seen how Gensler’s offer will affect this process.