#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the 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 regulatory transparency and the legitimacy of its actions. 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 on collaborative platforms. It is alleged that at least 150 key documents have been deliberately concealed. 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 and WSPN CEO Austin Campbell, in an attempt to assess whether they pose a threat to the FDIC. This series of actions has fueled concerns about the FDIC's crackdown on the cryptocurrency industry and raised questions about the transparency and legitimacy of regulatory actions. Coinbase and other institutions are actively seeking to release documents through Freedom of Information Act requests, aiming to expose the FDIC's efforts to prevent institutions from adopting cryptocurrencies. This incident has also sparked discussions about whether regulatory actions should be more transparent.