Brian Armstrong, the chief executive of Coinbase, believes that crypto companies should not work with firms who hire former regulators from the Biden administration to police the digital assets space.
Armstrong blasted Milbank LLP’s hiring of Gurbir S. Grewal. Grewal was a former Director of Enforcement at the U.S. Securities and Exchange Commission.
Grewal, while a SEC official, brought 100 or more enforcement actions against crypto companies.
Armstrong claims that Coinbase won’t work with Milbank as long as Grewal works at the company.
The senior partners of these law firms appear to be unaware of the position taken by crypto-industry on this issue.”
Armstrong insists that the restrictions he advocates don’t constitute “cancel-culture,” but.
It’s an ethical violation to me to attempt to unlawfully destroy an industry and refuse to publish clear regulations. You cannot claim that you just followed orders if you are a senior. Many good people left the SEC. This was not the normal SEC term.
Let your law firms know that hiring these folks means losing you as a client.” Tell your lawyers that hiring them means you will lose their business .”
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As new information becomes available, this post Brian Armstrong Issues Ultimatum To Lawyers And Vows To Break Ties with Any Who Hire Employees With Anti-Crypto Past might be updated.
