#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the U.S. Federal Deposit Insurance Corporation (FDIC) has been accused of deliberately concealing documents related to its crackdown on the cryptocurrency industry, raising concerns about the agency's transparency and regulatory practices. According to multiple insiders, the FDIC has employed various tactics to circumvent disclosure requirements under the Freedom of Information Act in an operation dubbed "Operation Chokepoint 2.0," including labeling documents as attorney-client privileged, conducting incomplete searches within regional systems, and hiding files generated on collaborative platforms like Microsoft Teams. Insiders claim that approximately 150 key documents have not been submitted. Furthermore, the FDIC has been accused of conducting social media investigations into several prominent figures in the industry, including Coinbase Chief Legal Officer Paul Grewal, WSPN CEO Austin Campbell, Custodia Bank founder Caitlin Long, Castle Island Ventures founder Nic Carter, and Unchained podcast regulatory reporter Veronica Irwin. Insiders stated that they were personally assigned to investigate whether these individuals posed a threat to the FDIC. Coinbase has been actively seeking the release of documents through Freedom of Information Act requests, revealing the FDIC's efforts to hinder institutions from adopting crypto. This incident has sparked widespread criticism of the FDIC's actions, with calls for greater transparency and a more open and transparent approach to regulation.