Brian Armstrong Calls SEC Commissioner Up for Re-Nomination a ‘Failure,’ Urges Senate To Vote Her Out

Coinbase CEO Brian Armstrong is lashing out in opposition to a US Securities and Trade (SEC) commissioner who must be reappointed.

Armstrong argues on the social media platform X that Caroline A. Crenshaw has been “a failure” as commissioner and must be voted out.

“She tried to dam the Bitcoin ETFs (change traded funds) and was worse than Gensler in some features (which I did not assume was doable).

The Senate Banking Committee ought to take observe: the crypto neighborhood is watching this vote. I’m instructed this will probably be included within 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 position by former President Donald Trump and was unanimously confirmed by the Senate in 2020. Her time period ends this 12 months.

In January, she disagreed with the SEC’s choice to greenlight Bitcoin exchange-traded funds (ETFs), calling the approvals “flawed and ahistorical.”

Fox Enterprise journalist Eleanor Terrett stories that the Senate Banking Committee will meet this Wednesday to vote on Crenshaw’s reappointment.

Not more than three members of the SEC’s five-member supervisory board can belong to the identical political occasion. The SEC presently has three Democratic and two Republican commissioners, though Chairman Gary Gensler and Commissioner Jaime Lizárraga, each Democrats, have introduced their plans to resign in early 2025.

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