Coinbase chief govt Brian Armstrong is lashing out in opposition to a U.S. Securities and Trade (SEC) commissioner who’s up for re-nomination.
Armstrong argues on the social media platform X that Caroline A. Crenshaw has been “a failure” as commissioner and must be voted out.
“She tried to dam the Bitcoin ETFs (exchange-traded funds) and was worse than Gensler on some points (which I didn’t suppose was attainable).
The Senate Banking Committee ought to take notice – the crypto group is watching this vote. I’m advised it will likely be factored into Stand With Crypto scorecards for politicians.”
Stand With Crypto is a digital asset advocacy group backed by Coinbase.
Crenshaw is a Democrat who was nominated to her position by former President Donald Trump and unanimously confirmed by the Senate in 2020. Her time period expires this 12 months.
In January, she dissented in opposition to the SEC’s resolution to greenlight spot Bitcoin exchange-traded funds (ETFs), calling the approvals “unsound and ahistorical.”
Fox Enterprise journalist Eleanor Terrett reports that the Senate Banking Committee will meet this Wednesday to vote on Crenshaw’s renomination.
Not more than three members of the SEC’s five-person board of commissioners can belong to the identical political celebration. The SEC at the moment has three Democratic and two Republican commissioners, although Chair Gary Gensler and Commissioner Jaime Lizárraga, each Democrats, have announced their plans to step down in early 2025.
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