Martin Gruenberg, Chairman of the U.S. Federal Deposit Insurance coverage Corp. (FDIC), announced today that he’ll be stepping down on January 19, 2025, sooner or later earlier than Trump takes workplace.
I’d prefer to take this chance to inform Mr. Gruenberg to not let the door hit him on the best way out.
The FDIC chair was one of many key gamers behind Operation Chokepoint 2.0 (in addition to the first Operation Chokepoint), which included the illegal debanking of quite a lot of Bitcoin and crypto firms, which almost spurred a global financial crisis.
Throughout this tenure, Gruenberg directed the FDIC to take illegal motion towards banks that served the Bitcoin and crypto trade seemingly as a result of the trade was politically unfavorable.
Gruenberg stated he’d be leaving his put up in Might of this 12 months, after reports of sexual harassment, bullying and discrimination occurring inside FDIC below his watch surfaced however didn’t supply a date for his departure till right now.
Quite a few distinguished voices within the Bitcoin and crypto trade spoke out towards Gruenberg, over the previous two years. Most distinguished amongst them was Citadel Island Ventures associate Nic Carter.
The resignation of choke level Marty was greater information than the ETH ETF. Right here’s why: https://t.co/g1KVX4ASMn
— nic carter (@nic__carter) May 21, 2024
Whereas Gensler will seemingly be remembered as essentially the most disliked regulator by the Bitcoin and crypto trade below the Biden Administration, Gruenberg will likely be an in depth second.
As we transfer ahead with a brand new administration that has pledged to be extra truthful to the Bitcoin and crypto trade, allow us to take a second to have fun the exit of Gruenberg, a corrupt bureaucrat who tried and didn’t cease a burgeoning trade by abusing his energy.
This text is a Take. Opinions expressed are fully the writer’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.