In a recent development, Coinbase Global Inc has successfully obtained the unredacted files from the Federal Deposits Insurance Commission (FDIC) as part of its ongoing investigation into its involvement in the Operation Chokepoint 2.0 initiative.
Paul Grewal, the Chief Legal Officer at Coinbase, revealed in a recent blog post that it required a Court order for the FDIC to release the unredacted documents. These documents are now accessible to the general public.
After a Court order, we have finally obtained the unredacted OCP 2.0 letters from @FDICgov. These documents reveal a coordinated effort to impede various forms of cryptocurrency activities, ranging from basic Bitcoin transactions to more complex services. 1/3
— paulgrewal.eth (@iampaulgrewal) January 3, 2025
“After a Court order, we have finally obtained the unredacted OCP 2.0 letters from FDICgov. These documents reveal a coordinated effort to impede various forms of cryptocurrency activities, ranging from basic Bitcoin transactions to more complex services,” he stated.
Grewal emphasized that the documents provide evidence of the FDIC’s involvement in a systematic campaign to hinder crypto transactions. He expressed doubts about the FDIC’s integrity, pointing out that despite previously claiming full compliance with the court order, they mysteriously discovered two additional redacted letters upon further examination.
Questioning Credibility
He raised concerns about the FDIC’s credibility, citing inconsistencies in their actions and discoveries. Grewal called for the new Congress to conduct hearings promptly and initiate a thorough investigation into the matter.
Earlier in December, the FDIC released a batch of documents related to Coinbase’s investigation into Operation Chokepoint 2.0, but they were heavily redacted. Subsequently, a judge ruled in favor of Coinbase, mandating the release of the unredacted versions of these documents under the Freedom of Information Act (FOIA).