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International Business Times
International Business Times
Business
Marvie Basilan

Elon Musk, Crypto Leaders Laud 'Unplugging' Of CFPB, Critics Push Back

CFPB Elon Musk Donald Trump United States Elizabeth Warren Crypto Brian Armstrong Tyler Winklevoss the Trump Org Gemini
Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C. (Credit: Reuters)

KEY POINTS

  • Elon Musk was among the first to react with glee to the CFPB being shut down for the week
  • Coinbase's Brian Armstrong stressed it was the "right call," saying the agency was "unconstitutional"
  • Gemini's Tyler Winklevoss also celebrated the agency getting "unplugged"
  • Trump insisted Monday that it was only right for the CFPB to be shut down as it was a "waste"
  • Some crypto holders and X users called out Armstrong and Winklevoss for their comments

Elon Musk and the chiefs of some of the cryptocurrency industry's key organizations have lauded the work being done by the Trump administration to "shut down" the Consumer Financial Protection Bureau (CFPB).

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