#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the Federal Deposit Insurance Corporation (FDIC) has been accused of deliberately concealing documents and conducting social media investigations of critics in its crackdown on the crypto industry, dubbed "Operation Chokepoint 2.0." According to sources, the FDIC has employed various tactics to circumvent Freedom of Information Act disclosure requirements, including labeling documents as attorney-client privileged, conducting incomplete searches within its regional systems, and hiding documents on collaborative platforms. Additionally, the FDIC has conducted social media investigations of prominent figures like Coinbase Chief Legal Officer Paul Grewal, attempting to assess whether they pose a threat to the FDIC. These actions have raised concerns about the FDIC's lack of transparency and potential bias against the crypto industry. Coinbase and other institutions have been actively seeking the release of documents through FOIA requests, aiming to expose the FDIC's efforts to hinder crypto adoption. The revelation of these actions has sparked discussions about the transparency of regulatory actions and the future of the crypto industry. Some argue that regulators should be more transparent and avoid using their power to suppress emerging industries, while others believe that regulators need to take steps to protect consumer interests and prevent risks within the crypto space.