TechFlow reported on March 3 that Coinbase is seeking to determine the exact amount spent by the U.S. Securities and Exchange Commission (SEC) on non-fraud investigations and enforcement actions against the crypto industry under former Chair Gary Gensler, according to Fox Business journalist Eleanor Terrett.
This morning, Coinbase filed a Freedom of Information Act (FOIA) request seeking records of all investigations and legal proceedings related to digital asset issuance, secondary market trading, staking, and lending between April 17, 2021, and January 20, 2025. The request also includes the number and names of investigations and enforcement actions during this period, as well as information on SEC staff and contractors' working hours and compensation. Additionally, it asks for disclosure of budget and pay details for the SEC’s Crypto Assets and Cyber Unit.
Coinbase Chief Legal Officer Paul Grewal said the move aims to provide transparency to U.S. taxpayers and expressed hope that the new SEC leadership will continue turning the page on accountability. As of publication time, the SEC has not responded to requests for comment.
