{"id":264869,"date":"2024-11-19T19:32:02","date_gmt":"2024-11-19T19:32:02","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/11\/19\/good-riddance-martin-gruenberg\/"},"modified":"2025-06-25T17:10:26","modified_gmt":"2025-06-25T17:10:26","slug":"good-riddance-martin-gruenberg","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/11\/19\/good-riddance-martin-gruenberg\/","title":{"rendered":"Good Riddance, Martin Gruenberg"},"content":{"rendered":"

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Follow Frank on X<\/a>.<\/figcaption><\/figure>\n

Martin Gruenberg, Chairman of the U.S. Federal Deposit Insurance Corp. (FDIC), announced today<\/a> that he\u2019ll be stepping down on January 19, 2025, one day before Trump takes office.<\/p>\n

I\u2019d like to take this opportunity to tell Mr. Gruenberg not to let the door hit him on the way out.<\/p>\n

The FDIC chair was one of the key players behind Operation Chokepoint 2.0<\/a> (as well as the first Operation Chokepoint<\/a>), which included the unlawful debanking of a number of Bitcoin and crypto companies, which almost spurred a global financial crisis<\/a>.<\/p>\n

During this tenure, Gruenberg directed the FDIC to take unlawful action against banks that served the Bitcoin and crypto industry seemingly because the industry was politically unfavorable.<\/p>\n

Gruenberg said he\u2019d be leaving his post in May of this year, after reports<\/a> of sexual harassment, bullying and discrimination occurring within FDIC under his watch surfaced but didn\u2019t offer a date for his departure until today.<\/p>\n

A number of prominent voices in the Bitcoin and crypto industry spoke out against Gruenberg, over the past two years. Most prominent among them was Castle Island Ventures partner Nic Carter<\/a>.<\/p>\n

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The resignation of choke point Marty was bigger news than the ETH ETF. Here\u2019s why: https:\/\/t.co\/g1KVX4ASMn<\/a><\/p>\n

— nic carter (@nic__carter) May 21, 2024<\/a><\/p><\/blockquote>\n

While Gensler will likely be remembered as the most disliked regulator by the Bitcoin and crypto industry under the Biden Administration, Gruenberg will be a close second.<\/p>\n

As we move forward with a new administration that has pledged to be more fair to the Bitcoin and crypto industry, let us take a moment to celebrate the exit of Gruenberg, a corrupt bureaucrat who tried and failed to stop a burgeoning industry by abusing his power.<\/p>\n

This article is a <\/em>Take<\/a><\/em>. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>\n