# Coinbase Wins FOIA Settlement Against SEC

*Coinbase won a FOIA settlement with the SEC as the agency deleted internal communications during the Gary Gensler era.*

By [ETH Daily News](https://ethdaily.io) · 2026-07-22

coinbase, sec, settlement, lawsuit, fdic, regulation

---

Coinbase reached a FOIA [settlement with the SEC](https://x.com/iampaulgrewal/status/2079902214823505950), forcing the agency to pay $150,000 and fix its record-retention policies after it was revealed the SEC deleted nearly a full year of communications between Gary Gensler and other senior officials during the height of its anti-crypto enforcement campaign.

The settlement is the second major FOIA win for Coinbase in 2026. In February, the company reached a separate settlement with the FDIC after exposing a secret campaign, known as Operation Choke Point 2.0, in which the FDIC sent letters to over a dozen banks instructing them to pause crypto-related activity. A court ruling found the FDIC had violated federal law by withholding records.

Under Gensler-control, the SEC sent over 100 enforcement actions and extracted billions in penalties from financial firms it regulated, all while internal messages purposely deleted. Coinbase chief legal officer Paul Grewal framed the wins as broader than crypto, arguing they establish accountability for government agencies operating in secret against lawful industries.

* * *

Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created.

---

*Originally published on [ETH Daily News](https://ethdaily.io/coinbase-wins-foia-settlement-against-sec)*