PANews May 21 news, according to Cointelegraph, Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation (FDIC), who has always opposed cryptocurrency, will resign after a severe investigation revealed a poor working environment culture within the bank regulator. On May 20, Martin Gruenberg said he was ready to resign as chairman of the FDIC, which he has held since August 2005. The FDIC is an independent agency of the U.S. government that provides insurance for depositors in U.S. commercial banks and savings banks. The announcement followed a third-party investigation released on May 7 into allegations of sexual harassment and other interpersonal misconduct within the FDIC and management's response to these misconduct. On May 15, Gruenberg testified in Congress about widespread sexual harassment allegations and abuse of subordinates. He faced criticism from Republican and Democratic lawmakers, who reportedly expressed anger, frustration and disbelief at the severity of the FDIC's problems. The White House said it intends to propose a new candidate for FDIC chairman. The crypto community celebrated the move, with Nic Carter, partner at Castle Island Ventures, calling it "the best day ever."