Just In: Coinbase Scores Major Win in FOIA Case Against FDIC

American crypto trading firm Coinbase Global Inc. has scored another major win against the Federal Deposit Insurance Commission (FDIC) in its ongoing Freedom of Information Act (FOIA) legal battle. This new ruling flags the FDIC for making what the court called “nuanced redactions.”

Coinbase and FDIC: Where is The Case Heading?

According to excepts of the ruling shared by Paul Grewal, the exchange’s Chief Legal Officer, the Judge said FDIC acted in bad faith with its redactions. The judge noted that the market regulator cannot just “blanket redact everything that is not a preposition.”

JUST IN: Judge Reyes ruled that FDIC didn’t do what it was ordered to do. “The Court is concerned with what appears to be FDICs lack of good-faith effort in making nuanced redactions. Defendant cannot simply blanket redact everything that is not an article or preposition.” 1/3 https://t.co/AX5HCKjrij

— paulgrewal.eth (@iampaulgrewal) December 12, 2024

This new ruling comes as Coinbase shared documents last week that exposed the FDIC’s role in the much criticized Operation Chokepoint 2.0.

This is a developing story, please check back for updates!!!

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