Coinbase CEO Brian Armstrong announced a bold stance against law firms that hire people associated with what he considers ethically questionable actions during the “next previous administration” of the SEC.
Armstrong revealed that the crypto exchange has already informed its legal partners that employing such individuals would result in the termination of their professional relationship with the company.
Coinbase cuts ties with Milbank
in a mail On X, Armstrong revealed that Coinbase severed ties with Milbank following the latter’s decision to hire Gurbir Grewal, the former SEC compliance director. The SEC announced on October 2 that Grewal would resign, highlighting his role in recommending more than 100 enforcement actions against non-compliance in the digital asset sector.
On October 15, Milbank welcomed Grewal to its litigation and arbitration team, and Chairman Scott Edelman praised his accomplishments as a federal prosecutor and SEC official.
Armstrong claimed that this hiring led Coinbase to discontinue its relationship with the law firm. The Coinbase executive criticized top officials at the agency for allegedly trying to stifle the crypto sector without clear regulatory guidance, noting that some SEC staffers chose to leave rather than participate in what he considers an “abnormal” mandate. “.
While clarifying that he opposes “permanently canceling people,” Armstrong called on the crypto industry to collectively refuse to fund people whose past actions contributed to what he described as regulatory overreach.
Coinbase CEO aligns with Trump team
Armstrong had previously defended pro-cryptocurrency figures in the government, backing Hester Peirce to lead the SEC. This reflects the stock’s considerable $100 million in political donations, including $40 million to Fairshake PAC. Although Armstrong refrained from directly supporting Trump’s campaign, his endorsement of policies like DOGE highlights his openness to cooperating with the president-elect’s administration.
last month, CryptoPotato reported that Armstrong is expected to meet privately with Trump to discuss high-profile government appointments crucial to the crypto industry, such as Treasury Secretary and SEC Chairman. Trump’s transition team reportedly organized the meeting, reflecting the administration’s pro-cryptocurrency stance.
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