#FDIC Concealed Documents Suppressing the Crypto Industry#
Hot Topic Overview
Overview
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 concealing documents and conducting social media investigations of critics. Sources revealed that the FDIC has employed various tactics to circumvent disclosure requirements under the Freedom of Information Act (FOIA) and has investigated several prominent industry figures, including Coinbase Chief Legal Officer Paul Grewal. These actions have raised concerns about the transparency and fairness of the FDIC's regulatory actions, further fueling the crypto industry's anxieties about regulatory suppression.
Ace Hot Topic Analysis
Analysis
The Federal Deposit Insurance Corporation (FDIC) has been exposed for a series of misconduct in its crackdown on the crypto industry, dubbed "Operation Chokepoint 2.0," including deliberately concealing relevant documents and conducting social media investigations of critics. Sources reveal that the FDIC has employed various tactics to circumvent disclosure requirements under the Freedom of Information Act (FOIA), 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 have not been submitted. Furthermore, 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 reporter Veronica Irwin, to assess whether they pose a threat to the FDIC. This incident has sparked public questioning of the FDIC's actions, with calls for greater transparency in regulatory actions and investigations into the FDIC's misconduct.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
FDIC concealed documents about its actions to suppress the crypto industry, attempting to evade disclosure requirements under the Freedom of Information Act.
FDIC used attorney-client privilege, incomplete searches, and hiding documents to avoid public disclosure.
FDIC conducted social media investigations of crypto industry critics, attempting to suppress criticism.
FDIC's actions have raised questions about regulatory transparency and fairness.