Allegations against the U.S. Securities and Exchange Commission (SEC) have gained attention as Coinbase claims it will challenge the agency's actions due to the destruction of important documents.
Coinbase's Accusations Against the SEC
Paul Grewal from Coinbase has stated that the SEC destroyed key documents, which is confirmed by the Inspector General's findings. Coinbase, through History Associates, is requesting federal court intervention to prevent what they call a "gross violation of public trust."
> "The SEC destroyed documents they were required to preserve and produce. We now have proof from the SEC’s own Inspector General." CITE_W_A
Inspector General's Findings
Grewal noted that the SEC Office of Inspector General revealed that text messages from October 2022 to September 2023 were destroyed despite long-standing information requests.
The report detailed how SEC officials' text messages had been excluded from Freedom of Information Act responses despite their potential classification as agency records.
Public Reaction and XRP Army
The news has generated strong reactions among XRP supporters, who see the court filing as validation of long-held concerns. Some commenters urged lawsuits or criminal charges, calling for accountability from Gary Gensler.
Discussions about transparency emphasize that public officials must adhere to the same standards imposed on private firms.
Allegations of destroyed records and selective disclosure threaten to erode confidence in one of the nation's most powerful financial regulators. While the current SEC has taken a more pro-crypto stance, former officials must be held accountable for their actions.
