Crypto Advocacy Group Ad Targets SEC’s Crenshaw Calling Her ‘More Anti-Crypto’

Cedar Innovation Foundation Takes Aim at Crenshaw Ahead of Senate Vote

A digital ad campaign launched by the Cedar Innovation Foundation (CIF) is putting U.S. SEC Commissioner Caroline Crenshaw in the crosshairs, calling her “more anti-crypto than Gary Gensler” as the Senate Banking Committee prepares to vote on her renomination. The group’s five-figure ad blitz, set to be featured across Washington D.C.’s social media platforms, criticizes Crenshaw for her stance against crypto innovation, specifically her opposition to Bitcoin ETFs and her harsh views on the crypto market.

CIF’s message is clear: If Crenshaw is confirmed, she could remain in her post until 2029, potentially continuing to stifle the development of the cryptocurrency space through what the group calls “regulation by enforcement.” The ad campaign comes at a critical juncture, as lawmakers weigh in on whether to confirm her for another term at the SEC.

Crenshaw’s Anti-Crypto Stance Under Fire

Crenshaw’s opposition to the approval of Bitcoin spot ETFs has drawn sharp criticism from the crypto community, with CIF accusing her of taking a harder stance than SEC Chairman Gary Gensler. “She not only supports the SEC’s heavy-handed ‘regulation by enforcement,’ she even opposes Bitcoin ETFs,” CIF posted on X (formerly Twitter). The ad campaign also suggests that if Crenshaw is reappointed, she could serve during the entirety of President Trump’s potential second term, which would extend her influence well into the future of U.S. crypto regulation.

Her opposition to Bitcoin ETFs—a move widely supported by many in the crypto industry—has made her a controversial figure. Her remarks labeling crypto markets as “a ‘petri dish’ of fraud” have only fueled the growing divide between the SEC and cryptocurrency advocates.

The Cedar Innovation Foundation’s ad campaign calls on Senate lawmakers to vote against Crenshaw’s renomination, positioning her as an obstacle to the innovation and regulatory clarity the crypto industry seeks.

Crypto Lobbyists Join the Fight Against Crenshaw

Cedar Innovation Foundation isn’t the only organization making noise about Crenshaw’s renomination. A number of crypto lobbying groups have also weighed in with strong objections. The Blockchain Association and the DeFi Education Fund, two key advocacy organizations, have sent letters to Senate lawmakers urging them to reject her renomination. These groups argue that Crenshaw has repeatedly undermined Congress’s directive to establish clear, sound regulatory policies for crypto assets.

The DeFi Education Fund criticized Crenshaw for her stance on decentralized finance, calling her actions “at odds with the charge of developing sensible crypto regulations.” Additionally, Ji Kim, the chief legal and policy council for the Crypto Council for Innovation, expressed concerns about Crenshaw’s leadership, accusing her of failing to demonstrate the “objective judgment required of agency leaders.”

High-Profile Industry Figures Weigh In

The vocal criticism of Crenshaw has been amplified by prominent figures in the crypto industry. Coinbase CEO Brian Armstrong recently bashed the commissioner, calling her a “failure as an SEC Commissioner.” Coinbase, one of the largest crypto exchanges in the U.S., has long been a target of regulatory scrutiny, particularly under Gensler’s leadership, and Armstrong’s remarks highlight the ongoing tensions between the SEC and the industry it is supposed to regulate.

Emilie Choi, President and COO of Coinbase, also took to social media, claiming that Crenshaw remains “vehemently anti-crypto.” These high-profile critiques have helped drive the conversation around her renomination, with industry insiders urging lawmakers to reconsider her position at the helm of the SEC.