Coinbase CEO Calls SEC Commissioner Caroline Crenshaw A ‘Failure’

Coinbase CEO Brian Armstrong took to X Monday, December 9 to bash United States Securities and Exchange Commissioner (SEC) Caroline Crenshaw as the Senate Banking Committee will vote on her renomination for the role this week.

Coinbase CEO Brian Armstrong Bashes Caroline Crenshaw

“Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out,” the crypto mogul wrote, saying Crenshaw was “worse than (SEC Chair Gary) Gensler on some issues.”

Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out.

She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn't think was possible).

The Senate Banking Committee should take note – the crypto community is watching… https://t.co/JQyp2zYaY2

— Brian Armstrong (@brian_armstrong) December 9, 2024

Notably, the Harvard-educated federal regulator spoke out against Bitcoin ETFs ahead of their approval last year, arguing in a January 10 statement that the move would set investors up for “tomorrow’s failure.”

“The Senate Banking Committee should take note – the crypto community is watching this vote,” Armstrong continued.

Coinbase President and COO Emilie Choi seemed to agree with his colleague, claiming in her own post to X that Crenshaw remains “vehemently anti-crypto.”

“She(‘s) even embarrassingly opposed Bitcoin ETFs,” Choi stated. “The SEC has to change.”

Senate Banking Committee To Decide SEC Commissioner’s Fate

According to Fox Business journalist Eleaor Terrett, Crenshaw will be able to continue serving at the federal regulator through 2029 should her approval be granted on Wednesday, February 11.

Armstrong, who has been vocal in the support of the digital asset industry, noted that the decision to vote Crenshaw in or out will allegedly affect crypto political collective Stand With Crypto’s scorecards for politicians regarding their stance on the industry.

Meanwhile, Gensler, who has seemingly been a longtime affiliate of Crenshaw, recently announced his decision to step down ahead of President-elect Donald Trump’s inauguration on January 20.

“The Securities and Exchange Commission is a remarkable agency,” Gensler said in a recent statement. “It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”

Just last week, former United States Securities and Exchange Commissioner (SEC) Paul Atkins was tapped by the former reality television to lead the federal agency.

Atkins is largely seen as a crypto-friendly pick to spearhead the agency, with Trump previously vowing to fire Gensler for his regulation-by-enforcement approach to the blockchain sector as a whole.

Trump largely backed the world of digital assets on the campaign trail, going so far as to launch his family’s own crypto platform entitled World Liberty Financial.

However, as he prepares for his second term as U.S. president, the New York-born businessman will have more say than ever over the SEC’s direction.