Coinbase Settles FOIA Fight With the SEC Over Gensler’s Vanished Texts

Coinbase settled a FOIA lawsuit with the SEC, which admitted destroying nearly a year of texts from former Chair Gary Gensler during a critical period in crypto regulation. The SEC agreed to pay $150,000 and improve record-retention policies. Coinbase argued the agency violated its own rules by failing to preserve communications related to crypto enforcement actions.