Coinbase CEO Says SEC Commissioner Is ‘Failure’

Coinbase CEO Brian Armstrong has achieved the aim at anti-crypto SEC commissioner Caroline Crenshaw, who described her as a “failure.”

“Caroline Crenshaw was a failure as SEC commissioner and must be voted out,” he stated on social media.

Armstrong recalled the truth that Crenshaw was among the many commissioners who voted towards approving Bitcoin exchange-traded funds, breaking with SEC Chairman Gary Gensler.

The Senate Banking Committee will vote on Crenshaw’s reappointment on Wednesday.

Jaime Lizárraga, one other anti-crypto SEC commissioner, just lately introduced his resignation.

Nonetheless, based mostly on her observe report, Crenshaw seems to have essentially the most hostile angle towards crypto. The Cedar Innovation Basis, a crypto foyer group, stated that Crenshaw was “worse” than Gensler in July.

“Caroline Crenshaw is anti-crypto. She was even embarrassingly towards Bitcoin ETFs. The SEC wants to alter,” stated Emilie Choi, president and COO at Coinbase.

If renominated, Crenshaw may stay SEC commissioner till 2029.

In the meantime, as reported by U.As we speak, pro-crypto libertarian Paul Atkins was just lately picked as the brand new head of the SEC.

His renomination was enthusiastically endorsed by “Crypto Mother” Hester Peirce, often known as essentially the most crypto-friendly SEC commissioner.

Cryptocurrency leaders celebrated Atkins’ nomination, hoping the SEC would take a extra accommodating stance.

The SEC, a bipartisan regulatory company, has a complete of 5 commissioners. Greater than three commissioners from the identical get together are usually not permitted.