Martin Gruenberg, Chairman of the US Federal Deposit Insurance Corporation (FDIC), announced today who will leave office on January 19, 2025, one day before Trump takes office.
I would like to take this opportunity to tell Mr. Gruenberg not to let the door hit you on the way out.
The FDIC chairman was one of the key players behind Operation Chokepoint 2.0 (as well as the First Chokepoint operation), which included the illegal debanking of several Bitcoin and cryptocurrency companies, which almost caused a global financial crisis.
During this term, Gruenberg ordered the FDIC to take illegal action against banks serving the Bitcoin and cryptocurrency industry, apparently because the industry was politically unfavorable.
Gruenberg said he would step down in May of this year, after information Instances of sexual harassment, intimidation and discrimination that occurred within the FDIC under his watch came to light, but he did not offer a date for his departure until today.
Several prominent voices in the Bitcoin and cryptocurrency industry have spoken out against Gruenberg over the past two years. The most prominent among them was the partner of Castle Island Ventures. Nico Carter.
Marty’s resignation, the choke point, was bigger news than the ETH ETF. Here’s why: https://t.co/g1KVX4ASMn
— nicmas 🎄 carter (@nic__carter) May 21, 2024
While Gensler will likely be remembered as the regulator least liked by the Bitcoin and cryptocurrency industry under the Biden Administration, Gruenberg will be a close second.
As we move forward with a new administration that has committed to being more fair to the Bitcoin and cryptocurrency industry, let’s take a moment to celebrate the departure of Gruenberg, a corrupt bureaucrat who tried, unsuccessfully, to stop a flourishing industry by abusing its power. .
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
