Coinbase CEO Brian Armstrong recently voiced his criticism of law firms representing crypto companies while employing individuals with a history of opposing the blockchain and cryptocurrency industry.
Taking to X (formerly Twitter), Armstrong stated:
“As a company committed to the fight for civil rights, we will no longer collaborate with these legal partners.”
His remarks were a direct reaction to Milbank LLP’s recent hiring of Gurbir S. Grewal, former director of the SEC’s Enforcement Division. Grewal, during his tenure, oversaw numerous enforcement actions against crypto firms, including Coinbase. Armstrong condemned the hire as an ethical lapse, accusing Grewal of undermining the industry while failing to provide clear regulatory guidance.
Calling for collective action, Armstrong urged the crypto community to hold law firms accountable for their hiring practices. He encouraged firms to reconsider their support for legal partners employing individuals involved in ambiguous regulatory crackdowns, tweeting:
“Tell the law firms that if you hire these individuals, you will take your business elsewhere.”
Armstrong clarified that his criticism was not aimed at blacklisting individuals permanently but to ensure accountability for actions that negatively impacted the industry.
Armstrong also highlighted in his X post that several SEC officials resigned while leading enforcement actions against alleged violators of established regulations. He expressed hope that these resignations reflected dissent with the agency’s shifting approach.
Armstrong Praises Pro-Crypto Developments After U.S. Elections
Beyond regulatory issues, Armstrong has been an active voice in the political sphere following the recently concluded U.S. elections. He commended President-elect Donald Trump’s proposed Department of Government Efficiency (DOGE), describing it as a promising opportunity to advance economic freedom.
In a November 17 post on X, Armstrong pushed for fiscal reforms such as capping federal spending through a constitutional amendment and barring lawmakers who approve unbalanced budgets from re-election. He argued that curbing federal inefficiencies—particularly as spending has doubled in recent years—could yield substantial economic benefits.
Meanwhile, the Coinbase chief executive had previously expressed optimism about Trump’s re-election, citing the president-elect’s openness to digital assets and financial innovation as a potential catalyst for a more favourable federal stance toward cryptocurrency and blockchain technology. He also celebrated notable pro-crypto victories in the recent elections, emphasizing the need for the industry to prioritize advocating for sensible regulations, safeguarding consumer protection, and building resilience against future challenges.
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