SEC Agrees to Pay Coinbase $150K in Attorney Fees After Record Lawsuit Settlement

Coinbase has settled its lawsuit against the SEC, winning $150,000 in attorney fees for consultant firm History Associates and a policy overhaul. The settlement comes after Coinbase accused regulators of coordinating to cut crypto companies off from banking services.

Under the agreement, the SEC will also release two previously withheld documents as part of its record retention practices overhaul. Coinbase's Chief Legal Officer Paul Grewal wrote in an op-ed that former SEC Chair Gary Gensler ran a 'litigation campaign against the industry' and that the agency lost text messages between Gensler and other officials after what the SEC described as an automatic data wipe.

Coinbase filed the lawsuit in 2024, which Grewal said 'will improve transparency and limit the ability of agencies to overreach behind closed doors again in the future.' The Digital Asset Market Clarity Act is seen as a key factor in this settlement, with Coinbase's CEO Brian Armstrong calling it a 'one-yard-line moment' that could bring clarity to the industry.