In a recent announcement, Brian Armstrong, the CEO of Coinbase, declared that the company will no longer engage with any firm that hires individuals who have acted against the crypto industry.
Armstrong took to an online platform to express his stance, stating that Coinbase will sever ties with any firm that employs individuals who have worked against the interests of the crypto industry during the Biden administration.
Coinbase CEO Calls Out Milbank for Hiring Gurbir S. Grewal
In an official statement, Armstrong communicated to all the law firms collaborating with Coinbase that the company will terminate its relationship with any firm that hires individuals who have acted against the crypto industry in the previous administration.
The senior partners at these law firms appear to be unaware of the negative impact such actions have on the crypto industry.… https://t.co/k8R6NtfTV1 pic.twitter.com/RT0k408i9f
— Brian Armstrong (@brian_armstrong) December 3, 2024
Armstrong specifically called out Milbank for hiring Gurbir S. Grewal, who previously served as the head of the SEC’s Division of Enforcement. He emphasized that Coinbase will no longer engage with Milbank due to Grewal’s attempts to hinder the growth of the crypto industry by failing to establish clear regulations.
“While I believe in giving individuals a chance for redemption, the crypto industry should not financially support those who have actively worked against it. Inform your legal representatives that hiring such individuals will result in the loss of your business.” – Brian Armstrong
Furthermore, Armstrong criticized individuals in senior positions at the SEC who claim to have been following orders, stating that they had the option to leave the organization, as many others did, and seek opportunities in industries with more transparent regulations.