Coinbase chief government Brian Armstrong is lashing out in opposition to a U.S. Securities and Alternate (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 needs to 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 assume was potential).
The Senate Banking Committee ought to take notice – the crypto neighborhood is watching this vote. I’m advised it is going to 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 yr.
In January, she dissented in opposition to the SEC’s choice 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 get together. The SEC at present 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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