Coinbase Obtains Unredacted FDIC Documents on Operation Chokepoint 2.0

In a latest develoment, Coinbase Global Inc has obtained the unredacted files from the Federal Deposits Insurance Commission (FDIC) in its ongoing investigation into its role in the Operation Chokepoint 2.0 agenda.

Paul Grewal, the Coinbase CLO has highlighted in a recent X post that it took the FDIC a Court order to release the documents. These unredacted documents are now available to members of the public.

“We finally got the unredacted OCP 2.0 letters from FDICgov. It took a Court order but you can now read them for yourself below. They show a coordinated effort to stop a wide variety of crypto activity- everything from basic BTC transactions to more complex offerings,” he noted.

He remarked that the documents prove the FDIC oversaw a coordinated effort to cripple crypto transactions. Grewal expressed skepticism about the FDIC’s actions as he noted that while the FDIC previously claimed it had fully complied with a court order, now, after further review, it “magically” found two more pause letters.

Credibility In Question

He noted that it is hard to believe in their ‘good faith’ as their actions seem inconsistent and their credibility is undermined with each new discovery. He underscored that the new Congress should launch hearings on all this without delay, suggesting a thorough investigation into the matter.

Previously, in December, the FDIC released a set of documents related to Coinbase’s investigation into Operation Chokepoint 2.0, but they were redacted, with key details removed. Shortly after, a judge ruled that the FDIC must release the unredacted versions of these documents, which was a significant victory for Coinbase in the Freedom of Information Act (FOIA) case.