#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the Federal Deposit Insurance Corporation (FDIC) has been exposed for a series of misconduct in its crackdown on the crypto industry (Operation Chokepoint 2.0), including deliberately concealing relevant documents and conducting social media investigations into industry figures. According to reports, the FDIC has employed various tactics to circumvent disclosure requirements under the Freedom of Information Act (FOIA), marking documents as attorney-client privileged, conducting incomplete searches within its regional systems, and hiding documents on collaboration platforms. Insiders claim that approximately 150 key documents have not been submitted. Additionally, the FDIC has been accused of conducting social media investigations into industry figures such as Coinbase Chief Legal Officer Paul Grewal and WSPN CEO Austin Campbell, examining whether they pose a threat to the FDIC. These actions have raised concerns about the FDIC's transparency and the legitimacy of its regulatory actions. Institutions like Coinbase are actively seeking to release documents through FOIA requests, revealing the FDIC's efforts to hinder institutions from adopting crypto. This incident has also sparked discussions about whether regulatory actions should be more transparent and whether the FDIC should adopt a more friendly stance towards the crypto industry.