The chairman of the U.S. FDIC will resign, having pushed to prevent banks from holding crypto deposits or providing banking services to crypto companies

ChainCatcher news, according to Cointelegraph, Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), will resign due to recent scandals involving the FDIC.

It is reported that during his tenure, Martin Gruenberg pushed to prevent banks from holding crypto deposits or providing banking services to crypto companies. In 2022, he also compared crypto assets to high-risk financial innovations such as subprime mortgages and mortgage-backed securities that led to the 2008 financial crisis in a speech.

The FDIC is an independent U.S. government agency that provides insurance for depositors in U.S. commercial banks and savings banks.