Coinbase Escalates Legal Battle Against SEC Over ’Lost’ Gary Gensler Texts

Coinbase just dropped a legal bombshell—filing a motion demanding the SEC explain how former Chair Gary Gensler's texts vanished into thin air. The exchange isn't buying the 'technical glitch' excuse.

Missing evidence or convenient amnesia?

The motion alleges the SEC failed to preserve crucial communications during a critical regulatory period. Coinbase's legal team argues the disappearance of these records undermines transparency and due process—especially given Gensler's frequent private market communications.

Another day, another regulatory black hole.

This isn't the first time the SEC has 'lost' key documents. Critics point to a pattern of opacity that would get any publicly traded company crucified—but hey, when you're the regulator, who holds you accountable? The timing couldn't be more ironic as the agency continues its aggressive enforcement crusade against an industry it can't even properly document.

When the watchmen can't keep their own records straight, maybe it's time to question who's really watching.