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Coinbase to Cut Ties with Law Firms Linked to Anti-Crypto Actions

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#DeFi
ZyCrypto
580Words
Dec 6, 2024

Coinbase CEO Brian Armstrong announced that the company will sever ties with law firms hiring individuals linked to past regulatory crackdowns on crypto. Armstrong criticized former SEC leadership, particularly under Gary Gensler, for unethical behavior against the crypto industry. He specifically mentioned the law firm Milbank for hiring Gurbir Grewal, a former SEC figure, and stated Coinbase would not work with them while Grewal is employed. This move aligns with broader concerns in the crypto community about regulatory pressures, dubbed 'Operation Choke Point 2.0,' which allegedly targets crypto firms. Prominent figures like Marc Andreessen and pro-crypto lawyer John Deaton have called for investigations into these practices.

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