SEC Pays Coinbase $150K in Settlement, Overhauls Records Practices
Coinbase Global (NASDAQ:COIN) has settled its lawsuit with the SEC, winning $150,000 and a policy overhaul.
The settlement comes after a year-long legal battle, which began in 2024 when Coinbase filed a lawsuit against regulators for coordinating to cut crypto companies off from banking services.
Coinbase Chief Legal Officer Paul Grewal wrote in an op-ed that the SEC's former Chair Gary Gensler ran a 'litigation campaign against the industry' and lost text messages between Gensler and other officials after what the SEC described as an automatic data wipe.
The settlement requires the SEC to pay $150,000 in attorney fees to consultant firm History Associates, release two previously withheld documents, and overhaul its record retention practices.