Martin Gruenberg, Chairman of the U.S. Federal Deposit Insurance coverage Corp. (FDIC), introduced immediately that he’ll be stepping down on January 19, 2025, at some point earlier than Trump takes workplace.
I’d wish to take this chance to inform Mr. Gruenberg to not let the door hit him on the way in which 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 nearly spurred a worldwide monetary disaster.
Throughout this tenure, Gruenberg directed the FDIC to take illegal motion in opposition to 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 publish in Could of this 12 months, after stories of sexual harassment, bullying and discrimination occurring inside FDIC beneath his watch surfaced however didn’t supply a date for his departure till immediately.
Plenty of distinguished voices within the Bitcoin and crypto trade spoke out in opposition to Gruenberg, over the previous two years. Most distinguished amongst them was Fortress Island Ventures companion Nic Carter.
The resignation of choke level Marty was larger information than the ETH ETF. Right here’s why: https://t.co/g1KVX4ASMn
— nic carter (@nic__carter) Could 21, 2024
Whereas Gensler will probably be remembered as probably the most disliked regulator by the Bitcoin and crypto trade beneath the Biden Administration, Gruenberg can be an in depth second.
As we transfer ahead with a brand new administration that has pledged to be extra honest 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 did not cease a burgeoning trade by abusing his energy.
This text is a Take. Opinions expressed are completely the creator’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.