McCarthy’s removal was ratified in a vote with a 216-210 majority, with Patrick McHenry accepted as Speaker; in this vote eight Republican members voted in favor of McCarthy’s dismissal from the speakership. Thus, the US Congress presided over the unprecedented and unique occurrence of removing the Speaker from office.

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Coinbase, the company, acknowledges McHenry as a staunch supporter of cryptocurrencies, particularly Bitcoin, given his prior transparent expressions of positive views on the subject.

The said man had previously made statements affirming his support for cryptocurrencies. During the voting on July 26, 2023, he voted in favor of the Financial Innovation and Technology Act for the 21st Century. In addition, he criticized SEC Chairman Gary Gensler for refusing to disclose the nature of Ethereum to the public, siding with transparency on the matter.

On Tuesday, the Republican Representative from North Carolina, Patrick McHenry, assumed the temporary position of Speaker of the House, filling the vacancy. McHenry, a staunch ally of Kevin McCarthy, accepted the appointment to the interim chair.

McHenry’s name, was already on the list of successors to McCarthy in case of a vacancy. This will be remembered as a precautionary measure taken to allow the smooth and regular transition of leadership within the Assembly.

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