Coinbase CEO Brian Armstrong Criticizes Law Firms Hiring Ex-Biden Administration Officials, Ends Relationships With Such Legal Partners

Brian Armstrong, CEO of Coinbase, criticized law firms hiring former Biden administration officials who enforced stringent regulations on the crypto market.

Coinbase CEO Brian Armstrong has slammed regulation law firms for hiring former Biden administration officials who spearheaded stringent crypto market regulations. Armstrong announced that Coinbase will sever ties with any legal partners who hire such individuals.

His comments come after Gurbir S. Grewal joined Milbank’s Litigation and Arbitration Group. As the former director of the SEC’s Division of Enforcement, Grewal played a pivotal role in actions against crypto companies, including Coinbase.

Grewal oversaw several enforcement actions during his tenure at the SEC, becoming known for his focus on crypto companies. According to Armstrong, law firms that hire individuals connected to these enforcement efforts show a lack of consideration for the crypto industry’s concerns. He stated that Coinbase will not support firms that “put money into the pockets of those who worked to harm crypto.”

The Coinbase CEO urged his fellow crypto executives to adopt a similar approach and refrain from hiring those who backed the Biden administration’s policies on digital assets.

Armstrong pointed out that working with people like Grewal is an “ethics violation” since they “unlawfully” attempted to “kill crypto” without establishing clear rules for the industry to follow. He added that those who left their positions to protest the unclear policies are welcome to work with Coinbase.

According to him, the broader crypto space “should not be putting money in their pocket after the abuse” that the industry faced during the Biden administration. Armstrong stated that a senior person working at the SEC or another agency was not “just following orders” and had the choice to leave the agency, as “many good people” did.

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