Brian Armstrongthe CEO of Coinbase
6.3 billion dollars
, fixed that the company has stopped working with companies that hired former officials of the Securities and Exchange Commission (SEC) that attempt to unfairly target the crypto industry.
He didn’t hold back when calling milbanka well-known law firm based in New York, for recently hiring Gurbir Grewal.
Grewal, who used to head the SEC’s Enforcement Division, played a major role in lawsuits and enforcement actions against crypto companies, including Coinbase.
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During Grewal’s time in the SEC, the agency filed more than 100 enforcement actions. While the SEC argued that these actions were necessary to address fraud and protect investors, Armstrong saw it differently.
He called it overreach and noted that the The lack of clear guidelines left crypto companies in a difficult situation..
However, he clarified that he’s not about blacklisting people foreverbut he does believe that there need to be consequences.
Armstrong also sent a message to the crypto community, encouraging them to stand firm against law firms that hire people he believes worked to harm the industry. “Let your law firms know that hiring these people means losing you as a client,” he said.
While Coinbase stock is making headlines, regulatory challenges continue to shape the crypto sector. Recently, new EU rules caused Coinbase to suspend USDC rewards. How did the community react? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
With almost a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that cryptocurrency enthusiasts face. He is a passionate analyst who cares about data- and fact-based content, as well as that which speaks to both Web3 natives and newcomers to the industry.
Aaron is the go-to person for all things digital currencies. With a strong passion for blockchain and Web3 education, Aaron strives to transform the space as we know it and make it more accessible to beginners.
Aaron has been quoted by several established media outlets and is a published author himself. Even during his free time, he likes to research market trends and look for the next supernova.
