Brian Armstrong, the CEO of Coinbase, has made bold statements against law firms employing anti-crypto individuals. Through a post on Platform X, Armstrong accused these firms of engaging in actions that harm the crypto industry and breach ethical standards. In a decisive move, Coinbase has severed ties with such firms, emphasizing its commitment to defending the integrity of the crypto ecosystem.
Firm Stance Against Anti-Crypto Practices
Armstrong declared that Coinbase would no longer work with legal firms employing individuals actively opposing the crypto industry. Highlighting ethics violations, he stated, “Attempting to undermine our industry through unlawful methods is unacceptable.”
As an example, Armstrong pointed to Milbank LLP, which recently hired former SEC Enforcement Director Gurbir S. Grewal. Armstrong criticized this decision, claiming figures like Grewal have historically worked to heighten regulatory pressure on the industry. Consequently, Coinbase ended its relationship with the firm, reinforcing its resolve to shield the sector from harmful practices.
Armstrong also warned legal firms, stating, “Know that hiring such individuals will cost you clients.” This signals a broader call for the industry to hold firms accountable for decisions that could stifle innovation and growth.
Focus on Pro-Crypto Regulations
Armstrong underscored the necessity of advancing pro-crypto regulations, particularly in the U.S. He emphasized that a more supportive regulatory framework could unlock innovation and growth in the sector. The Coinbase CEO speculated that under Donald Trump’s administration, two significant crypto bills might surface, potentially providing clarity and stability to the market.
Coinbase has consistently advocated for clearer and fairer regulations to foster trust and development within the sector. Armstrong believes that resolving regulatory uncertainty will open the doors for greater adoption and industry progress.
Coinbase’s Recent Success with MOODENG
Despite regulatory hurdles, Coinbase recently achieved a milestone by listing MOODENG, a Solana-based meme coin. Following the listing, MOODENG’s price skyrocketed by 94%, with its market cap surpassing $600 million. Daily trading volume also surged by 700%, reaching $1.1 billion.
This success reflects the growing interest in meme coins and underscores Coinbase’s ability to drive momentum in emerging markets.
A Call for Ethics and Innovation
Coinbase’s actions highlight its dedication to protecting crypto innovation while maintaining ethical standards. Armstrong’s statements and decisions send a clear message: the crypto industry is prepared to defend itself against undue regulatory pressure and unethical practices.
Dey There will continue to provide updates on Coinbase’s efforts and the evolving regulatory landscape in the crypto world.
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