#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the U.S. 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 transparency and regulatory practices. According to multiple insiders, the FDIC has employed various tactics to circumvent Freedom of Information Act disclosure requirements in an operation dubbed "Operation Chokepoint 2.0," including 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 several prominent figures 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. Insiders claim they were personally assigned to investigate whether these individuals posed a threat to the FDIC. This incident has sparked criticism of the FDIC's actions, suggesting a lack of transparency and potential abuse of power to suppress the cryptocurrency industry. Institutions like Coinbase are actively seeking to release documents through Freedom of Information Act requests, aiming to expose the FDIC's efforts to hinder the adoption of cryptocurrencies. This event has also ignited discussions about the transparency of regulatory actions, prompting questions about whether they should be more open and transparent to ensure fairness and legality.