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Judge Scolds FDIC Amid Coinbase's Discriminatory Banking Claims

2/7/2025

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Summary

Story summary

A federal judge rebuked the FDIC for mishandling Coinbase's FOIA requests, suggesting possible sanctions for document destruction.
Coinbase's lawsuit against the FDIC alleges discriminatory de-banking practices against cryptocurrency firms.
The FDIC is releasing documents in response to congressional scrutiny and leadership changes.
Coinbase's legal officer testified on regulatory challenges facing the crypto industry, receiving backing from Republican lawmakers.

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Story summary

A federal judge rebuked the FDIC for mishandling Coinbase's FOIA requests, suggesting possible sanctions for document destruction.
Coinbase's lawsuit against the FDIC alleges discriminatory de-banking practices against cryptocurrency firms.
The FDIC is releasing documents in response to congressional scrutiny and leadership changes.
Coinbase's legal officer testified on regulatory challenges facing the crypto industry, receiving backing from Republican lawmakers.