Crypto companies seek to build trustworthy partnerships in response to industry challenges.
XRP supporter Attorney John Deaton and Gemini co-founder Tyler Winklevoss have raised their voices against crypto firms collaborating with Milbank law firm. This call for action followed Milbank’s hiring of former SEC director Gurbir Grewal. Criticism towards Milbank is growing within the crypto industry.
ContentsDo Not Collaborate with Crypto OpponentsGrewal’s Anti-Crypto History Do Not Collaborate with Crypto Opponents
John Deaton warned crypto firms working with Milbank to sever their business relationships. Deaton stated that Grewal has harmed the crypto sector and lied before Congress.
“He lacks integrity. Period.” – John Deaton
Tyler Winklevoss emphasized the need to stop hiring anti-crypto officials. Winklevoss pointed out that such individuals damage the industry and lack ethical values.
“This must stop. Abusing government power to attack an industry and then serving clients at a top law firm is unacceptable.” – Tyler Winklevoss
Grewal’s Anti-Crypto History
Gurbir Grewal targeted numerous crypto firms during his tenure as head of the SEC Enforcement Division. Under Grewal’s leadership, significant legal battles occurred with major firms like Coinbase, Ripple $2, and Binance.
The Binance case resulted in a $4.3 billion penalty and drew attention to CEO Changpeng Zhao’s resignation. Ongoing lawsuits with Coinbase and Ripple highlight the aggressive stance of the SEC during Grewal’s leadership.
Finally, Grewal’s upcoming role at Milbank raises concerns about his impact and history within the crypto sector. Milbank’s hiring of Grewal shakes trust in the crypto industry, prompting firms to avoid such collaborations.
Crypto companies are uniting against negative approaches towards the sector, seeking more reliable and ethical partners.
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