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Jul 22, 2026

SEC Settles FOIA Lawsuit with Coinbase, Agrees to Pay $150,000 Over Lost Gensler-Era Records

The U.S. Securities and Exchange Commission agreed to pay $150,000 in legal fees to settle Coinbase's 2024 Freedom of Information Act lawsuit seeking internal documents from the agency's cryptocurrency crackdown under former Chair Gary Gensler, including text messages the SEC admitted were destroyed.

Jul 22, 2026·9 sources
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Top claims

  • ▪The wiped text messages of Gary Gensler covered the period of the FTX collapse and the agency's enforcement push against cryptocurrency exchanges.
  • ▪Coinbase Global Inc. said it sought documents that would show a concerted effort by U.S. regulators to cut off crypto companies from banking access.
  • ▪The U.S. Securities and Exchange Commission lost nearly a year of text messages belonging to former Chairman Gary Gensler from October 2022 to September 2023.

Topics

Crypto regulationGovernment transparencyCrypto exchangesCrypto regulatory agencies

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