Multiple Federal Deposit Insurance Corporation (FDIC) insiders have exposed a series of misconduct by the agency in Operation Chokepoint 2.0, a crackdown on the crypto industry. According to the revelations, the FDIC used a variety of means to circumvent Freedom of Information Act (FOIA) disclosure requirements, including marking documents as attorney-client privilege, conducting incomplete searches in regional systems, and hiding documents generated on collaboration platforms such as Microsoft Teams. According to people familiar with the matter, about 150 key documents were not submitted.
At the same time, the FDIC is also accused of conducting a social media investigation into a number of high-profile individuals 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. People familiar with the matter said they had been personally assigned to investigate whether these individuals posed a threat to the FDIC.
The FDIC was exposed as deliberately concealing action documents to suppress the crypto industry
2025-01-09 08:47:41
Multiple us federal deposit insurance corporation fdic internaldesk3cryptocurrencydesktopCrypto News
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