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Brian Armstrong Calls SEC Commissioner Up for Re-Nomination a ‘Failure,’ Urges Senate To Vote Her Out

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Coinbase chief executive Brian Armstrong is lashing out against a U.S. Securities and Exchange (SEC) commissioner who is up for re-nomination.

Armstrong argues on the social media platform X that Caroline A. Crenshaw has been “a failure” as commissioner and should be voted out.

“She tried to block the Bitcoin ETFs (exchange-traded funds) 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 this vote. I’m told it will be factored into Stand With Crypto scorecards for politicians.”

Stand With Crypto is a digital asset advocacy group backed by Coinbase.

Crenshaw is a Democrat who was nominated to her role by former President Donald Trump and unanimously confirmed by the Senate in 2020. Her term expires this year.

In January, she dissented against the SEC’s decision to greenlight spot Bitcoin exchange-traded funds (ETFs), calling the approvals “unsound and ahistorical.”

Fox Business journalist Eleanor Terrett reports that the Senate Banking Committee will meet this Wednesday to vote on Crenshaw’s renomination.

No more than three members of the SEC’s five-person board of commissioners can belong to the same political party. The SEC currently has three Democratic and two Republican commissioners, though Chair Gary Gensler and Commissioner Jaime Lizárraga, both Democrats, have announced their plans to step down in early 2025.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

Bitcoin Is Enough—Coinbase CEO Rejects Altcoins For Reserves

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.



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Altcoins

Brian Armstrong Calls Memecoins ‘Canary in the Coal Mine,’ Predicts Tokenization of Identity, Songs, Votes and More

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Coinbase CEO Brian Armstrong says that memecoins are the canary in the coal mine, foreshadowing a broader trend of the tokenization of culture.

In a new interview with CNBC, Armstrong says he expects memecoins to eventually lead to the tokenization of identities, votes and art.

“Memecoins in the broadest sense, I think we should find a way for artists to get paid. Anyone should be able to put artwork and get paid for it. I do think memecoins are a canary in the coal mine, that more and more of the world is going to get tokenized and put on-chain.

Every asset class, every vote, every identity, every song, every Instagram post, whatever – in the future I think more and more of these things are going to tokenized. Now, we also need to make sure people are following the law and not doing pump-and-dump schemes or insider trading, and there probably has been a little bit of that in the memecoin space which is not helping anybody.

In every crypto cycle, there seems to be people who rush in and they forget these lessons of the past, but insider trading should obviously be prosecuted and people should avoid doing that unless they want to go to prison.”

However, Armstrong admits that recent controversies surrounding memecoins – including Argentinian President Javier Milei’s LIBRA promotion – haven’t been a great look for the industry. But, he says that there is still a positive underlying path forward for digital assets.

“I do think we’re in the early stages of this industry so it’s the Wild West a little bit with memecoins right now. There’s good that comes with that which is a lot of innovation is happening.

There’s some bad happening as well from what I understand, it sounds like President Milei accidentally shared that information without actually understanding exactly what he was sharing if you believe his comments.

My hope is that this gets cleaned up and people continue to think long-term about how are we going to create real value for the billions of people in the world who need an updated financial system.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

Memecoin Explosion on Solana Overwhelms Coinbase – Brian Armstrong Says Firm Not Expecting ‘This Level of Surge’

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Coinbase founder and CEO Brian Armstrong says the latest memecoin frenzy is overwhelming the top US-based crypto exchange.

Armstrong acknowledges that Solana is experiencing transactional delays on Coinbase amid a high volume surge in the trading of memecoins launched on the SOL network.

In response to one customer complaining of delays on the social media platform X, Armstrong says,

“Team is working hard on scaling our Solana infra now – lots of Solana activity last few days, we were not anticipating this level of surge.”

Armstrong also responds to another customer complaining they’ve been waiting two days so far for their transfer of SOL to a private wallet to go through.

“It’s a scaling challenge keeping up with activity on Solana chain (which surged lately), not solvency. Customer funds are 100% backed and audited periodically by Deloitte. Team is working hard to resolve it.”

According to blockchain data aggregator DefiLlama, Solana has done $22.25 billion in trading volume in the last 24 hours while Ethereum (ETH) – the top smart contact platform by market cap – has only done $6.21 billion. Solana has also done $35.5 million in fees on the day while Ethereum has only done $15.7 million.

US President Donald Trump and First Lady Melania Trump both chose the Solana network to launch their respective memecoins just days before the presidential swearing-in ceremony on Monday.

Solana is trading for $251 at time of writing, up 5.4% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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