TechFlow news, according to Cointelegraph, Martin Gruenberg, Chairman of the U.S. Federal Deposit Insurance Corporation (FDIC), will resign following recent scandals at the FDIC.
On May 20, Martin Gruenberg stated that he is prepared to step down from his role as FDIC Chair, a position he has held since August 2005. In an email sent to staff, he said: "Given recent events, I am prepared to leave once a successor is identified." He added, "Until then, I will continue fulfilling my duties as FDIC Chair," including overseeing changes to the FDIC's workplace culture.
It was reported that during Gruenberg's tenure, he advocated for blocking banks from holding cryptocurrency deposits or providing banking services to crypto firms.
In addition, in a 2022 speech, he compared crypto assets to high-risk financial innovations such as subprime mortgages and collateralized debt obligations that contributed to the 2008 financial crisis.
