Martin Gruenberg, Chairman of the U.S. Federal Deposit Insurance coverage Corp. (FDIC), introduced in the present day that he’ll be stepping down on January 19, 2025, sooner or later 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 best way out.
The FDIC chair was one of many key gamers behind Operation Chokepoint 2.0 (in addition to the primary Operation Chokepoint), which included the illegal debanking of plenty of Bitcoin and crypto firms, which nearly spurred a world monetary disaster.
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 mentioned he’d be leaving his put up in Could of this 12 months, after stories of sexual harassment, bullying and discrimination occurring inside FDIC underneath his watch surfaced however didn’t provide a date for his departure till in the present day.
Various outstanding voices within the Bitcoin and crypto trade spoke out towards Gruenberg, over the previous two years. Most outstanding amongst them was Fort Island Ventures accomplice 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 possible be remembered as essentially the most disliked regulator by the Bitcoin and crypto trade underneath the Biden Administration, Gruenberg shall be a detailed 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 rejoice the exit of Gruenberg, a corrupt bureaucrat who tried and didn’t cease a burgeoning trade by abusing his energy.