Overview

• Coinbase moved in federal court for expedited discovery, sanctions, and immediate production of communications it says the SEC failed to search or preserve.
• The company alleges FOIA violations, delayed and narrowed searches, and nondisclosure of record loss despite court orders covering communications on Ethereum and crypto policy.
• The SEC OIG reported that texts from Oct. 18, 2022 to Sept. 6, 2023 were permanently deleted due to device‑wipe and backup failures, with about 38% of recovered messages deemed mission‑related.
• The watchdog also flagged potential losses across scores of other senior officials’ devices, raising broader questions about the agency’s recordkeeping and preservation practices.
• An SEC spokesperson said Chair Paul Atkins directed staff to investigate what occurred and to take steps to prevent a recurrence, while the court has not yet ruled on Coinbase’s requests.