FDIC Under Fire as Coinbase Obtains Letters Revealing Crypto Suppression
Coinbase obtains unredacted FDIC documents via court order, revealing alleged coordinated efforts to suppress crypto activities under Operation Chokepoint 2.0.
Outlines:
- Coinbase Gains Access to Unredacted FDIC Records
- FDIC Accused of Crypto Suppression
- Paul Grewal Calls for Congressional Investigation
- Victory for Coinbase in FOIA Case
- FDIC’s ‘Newly Discovered’ Letters Raise Eyebrows
The crypto exchange obtained this document from the Government Stores Protection Commission (FDIC) as part of its ongoing investigation into its involvement in the Activity Chokepoint 2.0 plot.
Paul Grewal, Coinbase’s CLO, stated in a new X post that it took the FDIC a court order to deliver the records. Individuals from the general public can now see these unredacted reports.
He wrote:
“We at long last got the unredacted OCP 2.0 letters from FDICgov. It took a Court request however you can now peruse them for yourself beneath. They show an organized work to stop a wide assortment of crypto action everything from fundamental BTC exchanges to additional complicated contributions,” he said
He stated that the reports show that the FDIC regulated a coordinated effort to destroy cryptocurrency exchanges. Grewal expressed concern about the FDIC’s activity, noting that, despite the FDIC’s recent assurance that it had fully consented to a court request, it has now “supernaturally” discovered two more interruption letters following an extra survey.
Questionable credibility:
He observed that it is difficult to believe in their ‘honest intentions’ because their actions appear to be contradictory, and their credibility is undermined with each new reveal. He emphasized that the next Congress should hold hearings on this immediately, urging a thorough investigation into the situation.
Previously, in December, the FDIC released a series of reports related to Coinbase’s investigation of Activity Chokepoint 2.0, but they were redacted, with important details removed. Soon after, an appointed authority ruled that the FDIC should disclose the unredacted versions of these records, marking a significant victory for Coinbase in the Freedom of Information Act (FOIA) litigation.
