Give Us the Receipts! Crypto Exchange Coinbase Makes Public-Records Request to Determine Total Money Spent by the SEC on Investigations into Crypto Cases in Recent Years
Coinbase, the largest US cryptocurrency exchange, demanded that it seek the US SEC to tally all the money the agency spent on crypto enforcement matters in the past four years.
In the first weeks of President Trump’s second administration, the Department of Government Efficiency, or DOGE, headed by the staunch Trump supporter and tech-billionaire Elon Musk, has uncovered a plethora of government misspending. Taking inspiration from President Trump’s money-saving agenda, Coinbase, one of the largest crypto exchanges in the world, has filed a request to the United States Securities and Exchange Commission (SEC) to submit the total number of American tax dollars spent on crypto enforcement actions over the past four years.
Coinbase Issues Public Record Request A La Doge
The Department of Government Efficiency (DOGE), headed by tech wizard Elon Musk, has made a clear impression on the crypto industry. After damning reports of government misspending came to light thanks to Mr Musk’s determination and grit to dismantle corruption in the US government, many others are now also questioning whether misspending could have occurred in other branches of government.
Coinbase can now breathe a sigh of relief after the SEC dropped its latest enforcement case against the exchange.
But no, says Coinbase: there's no time to relax. The exchange wants the SEC to offer a report detailing every dollar and resource it has devoted to enforcing and investigating the broader crypto industry in recent years.
The exchange has taken the step to receive the information from the agency by filing a Freedom of Information Act (FOIA) request, aimed at getting hold of the SEC’s financials concerning enforcement actions against crypto firms.
Detailed Request
Coinbase’s request seeks clarification on the expenses the SEC incurred from April 17, 2021, to January 20, 2025, linked to investigations into crypto activities. Coinbase’s request is comprehensive and seeks to include various aspects surrounding the SEC’s actions, including:
- The number of investigations launched against crypto firms;
- Number of employees involved in the enforcement actions;
- Additional detail on third-party contractors engaged in enforcements and investigations;
- Total and complete financial expenditures on these actions.
- Paul Grewal took to the social media platform X (formerly Twitter) to speak further about these actions.
