Martin Gruenberg, Chairman of the Board of Directors of the US Federal Deposit Insurance Corporation (FDIC), Announce today He will step down on January 19, 2025, one day before Trump takes office.
I would like to take this opportunity to tell Mr. Gruenberg not to let the door hit him on his way out.
The head of the FDIC was one of the key players behind Operation Chokepoint 2.0 (as well as… First Chokepoint operation), which included the illegal dismantling of a number of Bitcoin and cryptocurrency companies, which It almost led to a global financial crisis.
During this period, Gruenberg directed the FDIC to take illegal actions against banks serving the bitcoin and cryptocurrency industry apparently because the industry was politically unfavorable.
Gruenberg said he will leave his position in May of this year Reports Sexual harassment, bullying and discrimination occurring within the FDIC have come to light under his watch, but he has not offered a departure date until today.
A number of prominent voices in the Bitcoin and cryptocurrency industry have spoken out against Gruenberg, over the past two years. The most notable was partner Castle Island Ventures Nick Carter.
Chokepoint Marty’s resignation was bigger news than the ETH ETF. Here’s why: https://t.co/g1KVX4ASMn
– Nick Carter (@nic__carter) May 21, 2024
While Gensler will likely be remembered as the regulator most hated by the bitcoin and cryptocurrency industry under a Biden administration, Gruenberg will be a close second.
As we move forward with a new administration that has pledged to be more fair toward the Bitcoin and cryptocurrency industry, let’s take a moment to celebrate the exit of Grunberg, a corrupt bureaucrat who tried and failed to stop the booming industry by abusing his power. .
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.