Coinbase Accuses SEC of Destroying Key Texts, Seeks Court Sanctions
- Coinbase claims the SEC destroyed nearly a year of former Chair Gary Gensler’s text messages.
- The texts, erased from October 2022 to September 2023, coincided with major crypto events like the FTX collapse.
- The SEC’s Inspector General report highlighted potential data loss from over 40 senior officials’ devices.
- Coinbase demands expedited discovery and sanctions, citing “irreparable harm” from the document destruction.
Coinbase has filed for court action against the SEC after discovering that crucial communications were deleted during a critical enforcement period. This alleged mishandling of records by the SEC raises significant questions about transparency and accountability in its regulatory processes.
The deletion of these communications could impact ongoing and future enforcement actions, as it challenges the credibility and thoroughness of the SEC’s evidence handling practices. Source
