XRP supporter Attorney John Deaton and Gemini co-founder Tyler Winklevoss have spoken out against crypto firms doing business with law firm Milbank. The call comes after Milbank hired former SEC director Gurbir Grewal. Criticism of Milbank is growing in the crypto industry.
Don’t Do Business with Crypto Enemies
John Deaton warned crypto firms doing business with Milbank to cut off business relations. Deaton stated that Grewal harmed the crypto industry and lied to Congress.
“He doesn’t have integrity. Point.” –John Deaton
Tyler Winklevoss says the hiring of anti-crypto officials should be stopped. Winklevoss emphasized that such people harm the industry and have no ethical values.
“This must stop. Abuse of government power to attack an industry and then serve clients at an elite law firm.” – Tyler Winklevoss
Coinbase CEO Brian Armstrong announced that his company will immediately terminate relationships with law firms that hire anti-crypto officials. Armstrong stated that such steps were an ethical violation.
Grewal’s Anti-Crypto Background
Gurbir Grewal targeted many crypto firms while running the SEC’s Enforcement Division. Coinbase, Ripple during the Grewal period $2.2 There were legal struggles with large companies such as and Binance.
While the Binance case resulted in a penalty of $4.3 billion, it attracted attention with the resignation of CEO Changpeng Zhao. The ongoing lawsuits with Coinbase and Ripple reveal the aggressive stance of the SEC under Grewal’s management.
Finally, Grewal’s influence and history on the crypto industry, who will work at Milbank, continues to raise concerns in the industry. While Milbank’s hiring of Grewal shakes the trust in the crypto industry, companies are choosing to avoid such collaborations.
Crypto companies are uniting against negative attitudes towards the sector and looking for more reliable and ethical business partners.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
