Coinbase CEO Brian Armstrong is lashing out against a US Securities and Exchange (SEC) commissioner who should be reappointed.
Armstrong argues on the social media platform X that Caroline A. Crenshaw has been “a failure” as commissioner and should be voted out.
“She tried to block the Bitcoin ETFs (exchange traded funds) and was worse than Gensler in some aspects (which I didn’t think was possible).
The Senate Banking Committee should take note: the crypto community is watching this vote. I am told this will be included in the Stand With Crypto scorecards for politicians.”
Stand With Crypto is a digital asset advocacy group powered by Coinbase.
Crenshaw is a Democrat who was nominated to her role by former President Donald Trump and was unanimously confirmed by the Senate in 2020. Her term ends this year.
In January, she disagreed with the SEC’s decision to greenlight Bitcoin exchange-traded funds (ETFs), calling the approvals “flawed and ahistorical.”
Fox Business journalist Eleanor Terrett reports that the Senate Banking Committee will meet this Wednesday to vote on Crenshaw’s reappointment.
No more than three members of the SEC’s five-member supervisory board can belong to the same political party. The SEC currently has three Democratic and two Republican commissioners, although Chairman Gary Gensler and Commissioner Jaime Lizárraga, both Democrats, have announced their plans to resign in early 2025.
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