Coinbase Slams FDIC Over Delay in Crypto FOIA Case
Coinbase has filed a formal objection to the Federal Deposit Insurance Corporation’s (FDIC) latest request to delay the release of documents tied to the alleged debanking of crypto firms.
On April 10, the crypto exchange opposed a motion by the FDIC seeking an additional 16 days to respond to Coinbase’s ongoing Freedom of Information Act (FOIA) lawsuit.
Paul Grewal, Coinbase’s Chief Legal Officer, criticized the agency’s request, calling it “absurd.” In a post on X, Grewal noted that the FDIC filed 13 pages to ask for more time—just to decide whether to ask for even more delay.
“FDIC just filed 13 pages in our FOIA suit asking the Court for another 16 days to decide whether to ask us for … even more delay. As laid out in our response, this is absurd,” he wrote.
In its legal filing, Coinbase accused the FDIC of failing to meet its transparency obligations and of dragging out the case unnecessarily. The company also argued that the documents released so far were so heavily redacted they revealed virtually nothing of substance.
The FOIA case is part of a broader push by Coinbase to uncover whether federal banking regulators have engaged in coordinated efforts to restrict access to banking services for crypto-related companies.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
