Coinbase Seeks Court Action After SEC’s Missing Gensler Texts Come to Light

Coinbase has accused the US SEC of destroying nearly a year of text messages from former Chair Gary Gensler, urging a federal court to impose sanctions on the ￰0￱ company says the lost records cut into its ability to scrutinize how the agency shaped its aggressive stance on cryptocurrencies under ￰1￱ accusation came through in a Thursday filing in Washington, where Coinbase is backing litigation by History Associates, a research group that sought Gensler’s communications under the Freedom of Information ￰2￱ Policy Blamed As Nearly A Year Of Gensler’s Messages Disappear Lawyers for the group argue the SEC failed to hand over relevant records, and also allowed them to be wiped by a device policy that automatically deleted texts if a phone remained offline for more than 45 ￰3￱ SEC OIG report last week revealed texts from October 2022-September 2023 were ￰4￱ Gensler SEC did this even though we asked for information about “all communications” within the SEC related to crypto regulatory and enforcement decision-making years ago. 2/3 — ￰5￱ (@iampaulgrewal) September 11, 2025 An investigation by the SEC’s Office of Inspector General confirmed that Gensler’s messages between Oct. 2022 and Sept. 2023 were ￰6￱ watchdog found other senior officials may also have lost records, raising broader concerns about the agency’s recordkeeping ￰7￱ Coinbase, the gap is far from ￰8￱ period covers a turning point for digital assets, including Ethereum’s transition to proof of stake, FTX’s collapse, and a wave of enforcement actions against ￰9￱ texts could reveal how the regulator debated strategies and when it chose to ￰10￱ Seeks Judicial Action To Expose Gaps In SEC Transparency In the filing, lawyers for History Associates said the SEC failed to search text ￰11￱ happened despite court orders requiring the production of “all documents and communications.” They argued that the omission violated discovery ￰12￱ a result, they said it could justify ￰13￱ the same time, the dispute over lost texts comes after months of friction between the agency and ￰14￱ company has long accused the SEC of regulating by enforcement rather than setting clear rules.

Now, by pressing the court to step in, Coinbase aims to draw attention to what it sees as gaps in transparency and due ￰15￱ Argues Regulator Should Face Consequences For Erased Messages Legal experts say courts take the destruction of potential evidence very ￰16￱ concern grows stronger when records disappear after a formal request has been ￰17￱ may impose sanctions that range from ordering additional searches to restricting the SEC’s arguments in court. However, they often weigh intent and ask whether the loss was deliberate. Meanwhile, Coinbase is pushing to ensure the agency faces ￰18￱ company argues the court should not let the regulator benefit from what it calls an avoidable loss of key ￰19￱ ahead, the court is expected to decide on the next steps in the coming weeks.

A ruling in favor of sanctions could intensify the SEC’s ￰20￱ the other hand, a decision siding with the regulator would likely invite more criticism that accountability remains out of reach.