Martin Gruenberg, chairman of the US Federal Deposit Insurance Corp. (FDIC), announced today that he will resign 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 slam on his way out.
The FDIC Chairman was one of the key players behind this initiative Operation Chokepoint 2.0 (as well as the first Operation Chokepoint), including the unlawful debanking of a number of Bitcoin and crypto companies almost caused a global financial crisis.
During this tenure, Gruenberg ordered the FDIC to take unlawful action against banks serving the Bitcoin and crypto industries, ostensibly because the industry was politically unfavorable.
Gruenberg said he would leave his post in May this year reports of sexual harassment, bullying and discrimination that occurred under his watch within the FDIC surfaced, but did not offer a date for his departure until today.
A number of prominent voices in the Bitcoin and crypto industries have spoken out against Gruenberg over the past two years. Most prominent among them was the partner of Castle Island Ventures Nick Carter.
Bottleneck Marty’s resignation was bigger news than the ETH ETF. This is why: https://t.co/g1KVX4ASMn
— nic carter (@nic__carter) May 21, 2024
While Gensler will likely be remembered as the Bitcoin and crypto industry’s most hated regulator under the Biden administration, Gruenberg will be a close second.
As we move forward with a new administration that has promised to be more fair to the Bitcoin and crypto industries, let’s take a moment to celebrate the departure of Gruenberg, a corrupt bureaucrat who tried to stop a growing industry, but failed to abuse his power. .
This article is a To take. The opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.