Brian Armstrong, the CEO of Coinbase
He didn’t hold back when calling out Milbank, a well-known New York-based law firm, for recently hiring Gurbir Grewal.
Grewal, who used to run the SEC’s Division of Enforcement, played a big role in the lawsuits and enforcement actions against crypto companies, including Coinbase.
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During Grewal’s time at the SEC, the agency filed over 100 enforcement actions. While the SEC argued that these actions were necessary to tackle fraud and protect investors, Armstrong saw it differently.
He called it overreach and pointed out that the lack of clear guidelines left crypto companies in a tough spot.
However, he clarified that he’s not for blacklisting people forever, but he does think there need to be consequences.
Armstrong also sent a message to the crypto community, encouraging them to stand firm against law firms hiring people he believes worked to harm the industry. "Let your law firms know that hiring these folks means losing you as a client", he said.
While Coinbase’s actions are making headlines, regulatory challenges continue to shape the crypto sector. Recently, new EU rules caused Coinbase to sunset USDC rewards. How did the community react? Read the full story.
