#FDIC Concealed Documents Suppressing the Crypto Industry#
Hot Topic Overview
Overview
The Federal Deposit Insurance Corporation (FDIC) has been accused of deliberately withholding documents and conducting social media investigations of critics in its crackdown on the crypto industry. Sources say the FDIC has employed various tactics to circumvent Freedom of Information Act disclosure requirements, including labeling documents as attorney-client privileged, conducting incomplete searches in regional systems, and hiding documents on collaboration platforms. Additionally, the FDIC has been accused of conducting social media investigations of prominent industry figures, including Coinbase Chief Legal Officer and WSPN CEO, to assess whether they pose a threat to the FDIC. This incident has raised questions about the FDIC's conduct and sparked discussions about the transparency of regulatory actions.
Ace Hot Topic Analysis
Analysis
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 of critics. Insiders revealed that the FDIC employed various tactics to circumvent the Freedom of Information Act (FOIA) disclosure requirements, such as labeling documents as attorney-client privileged, conducting incomplete searches within regional systems, and hiding documents generated on collaborative platforms like Microsoft Teams. Allegedly, around 150 key documents were not submitted. Additionally, the FDIC has been accused of conducting social media investigations into prominent industry figures like 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 journalist Veronica Irwin, attempting to ascertain if they posed a threat to the FDIC. This incident has sparked questions about the FDIC's conduct, with many arguing that regulatory actions should be more transparent and calling for the FDIC to disclose relevant documents to ensure information transparency and public awareness.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The FDIC attempted to circumvent Freedom of Information Act disclosure requirements by labeling documents as attorney-client privileged, conducting incomplete searches, and hiding files on collaboration platforms.
The FDIC has taken repressive actions against the crypto industry, including Operation Chokepoint 2.0, aimed at limiting access to the crypto industry.
The FDIC has conducted social media investigations of critics of the crypto industry, attempting to determine if they pose a threat to the FDIC.
The FDIC's actions lack transparency and have attempted to conceal its crackdown on the crypto industry.