SEC Settlement Reached Over Missing Coinbase Records

Coinbase has reached a settlement with the U.S. Securities and Exchange Commission (SEC) over missing records, including nearly 11 months of text messages from former Chair Gary Gensler.

The SEC lost the messages between October 18, 2022, and September 6, 2023, a period marked by heightened crypto enforcement.

Coinbase Chief Legal Officer Paul Grewal stated that the missing records affected their ability to obtain complete responses to their Freedom of Information Act (FOIA) requests.

The settlement requires two additional disclosures and $150,000 in legal fees for Coinbase's FOIA case against the SEC, handled by consulting firm History Associates.