According to Deep Tide TechFlow, on January 9, multiple insiders from the Federal Deposit Insurance Corporation (FDIC) revealed a series of misconducts by the agency in Operation Chokepoint 2.0 (a crackdown on the cryptocurrency industry).
According to reports, the FDIC employs various tactics to evade the disclosure requirements of the Freedom of Information Act (FOIA), including marking documents as attorney-client privileged, conducting incomplete searches in regional systems, and concealing documents generated on collaborative platforms like Microsoft Teams. Insiders claim that about 150 key documents were not submitted.
At the same time, the FDIC has been accused of conducting social media investigations on several well-known industry figures, including Coinbase Chief Legal Officer Paul Grewal, WSPN CEO Austin Campbell, Custodia Bank founder Caitlin Long, Castle Island Ventures founder Nic Carter, and Unchained podcast regulatory reporter Veronica Irwin. Insiders state that they were personally assigned to investigate whether these individuals posed a threat to the FDIC.