Gary – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 12 Sep 2025 18:24:43 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Gary – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Coinbase Seeks Sanctions After SEC Wipes Gary Gensler’s Text Messages https://earlybirdsinvest.com/coinbase-seeks-sanctions-after-sec-wipes-gary-genslers-text-messages/ https://earlybirdsinvest.com/coinbase-seeks-sanctions-after-sec-wipes-gary-genslers-text-messages/#respond Fri, 12 Sep 2025 18:24:43 +0000 https://earlybirdsinvest.com/coinbase-seeks-sanctions-after-sec-wipes-gary-genslers-text-messages/

The US Securities and Exchange Commission (SEC) is facing criticism after an internal review showed that former Chair Gary Gensler’s text messages were erased between October 2022 and September 2023.

The Inspector General confirmed the records were permanently deleted, which raises concerns about how the agency manages and preserves important communications.

According to the SEC, it uses a system that wipes government-issued devices if they remain disconnected from the network for more than 45 days.

Crypto Day Trading VS Swapping: What’s More Rewarding? (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

Crypto Day Trading VS Swapping: What’s More Rewarding? (Animated)

Crypto Day Trading VS Swapping: What’s More Rewarding? (Animated)
Crypto Day Trading VS Swapping: What’s More Rewarding? (Animated)

In response, Coinbase



$2.33B

has asked a federal court in Washington, DC, to issue sanctions against the SEC, require faster discovery, and order the release of all remaining records.

In its filing, Coinbase said the destruction has caused harm that cannot be fixed and urged the court to halt a “destroy-and-delay” approach.

The company also pointed to the Freedom of Information Act disputes. The SEC first blocked Coinbase’s requests by claiming exemptions tied to law enforcement. That stance changed after Coinbase sued in June 2024.

Coinbase stated that the SEC could have processed or at least protected the records in 2023 if it had carried out timely searches.

Chief Legal Officer Paul Grewal stated in a post on X that the SEC “destroyed documents they were required to preserve and produce”, and pointed to the Inspector General’s findings as proof.

Meanwhile, a group of international regulators and exchange associations recently asked the SEC to take a stance on tokenized stocks. What did they say? Read the full story.

]]> https://earlybirdsinvest.com/coinbase-seeks-sanctions-after-sec-wipes-gary-genslers-text-messages/feed/ 0 58102 Gary Gensler’s SEC Phone Wiped, Nearly a Year of Texts Gone https://earlybirdsinvest.com/gary-genslers-sec-phone-wiped-nearly-a-year-of-texts-gone/ https://earlybirdsinvest.com/gary-genslers-sec-phone-wiped-nearly-a-year-of-texts-gone/#respond Sat, 06 Sep 2025 09:39:45 +0000 https://earlybirdsinvest.com/gary-genslers-sec-phone-wiped-nearly-a-year-of-texts-gone/

An internal review has revealed that nearly a year’s worth of text messages from former Securities and Exchange Commission (SEC) Chair Gary Gensler were deleted.

The Office of the Inspector General, which acts as an independent reviewer for the SEC, explained on September 3 that the messages were lost due to a combination of technical problems, overlooked warnings, and a misapplied policy.

The issue began on July 6, 2023, when Gensler’s work phone stopped linking properly with the SEC’s device management system. While the phone was still working and in use, its status was shown as “inactive” to the IT team, an alert that went unnoticed.

What is Ethereum & What is it Used For? (Animated Explanation)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is Ethereum & What is it Used For? (Animated Explanation)

What is Ethereum & What is it Used For? (Animated Explanation)
What is Ethereum & What is it Used For? (Animated Explanation)

On August 10, 2023, the agency’s tech department announced that any phone not connected to the system for 45 days would be automatically wiped. Gensler’s phone met that condition and was cleared without any manual checks.

Then, on September 6, 2023, Gensler returned to the SEC offices and saw that certain apps were missing. Unaware that the phone had already been wiped, the support team tried to fix the issue.

However, instead of restoring the content, they reset the phone entirely, which erased any remaining data, including text messages from October 18, 2022, to September 6, 2023.

The report pointed to several other issues that contributed to the loss, including a lack of communication between IT teams and external service providers.

Meanwhile, SEC Chair Paul Atkins recently shared his views on how the agency plans to handle digital assets going forward. What did he say? Read the full story.

]]> https://earlybirdsinvest.com/gary-genslers-sec-phone-wiped-nearly-a-year-of-texts-gone/feed/ 0 57026 ‘Avoidable errors’ wiped a year’s worth of Gary Gensler’s texts… oops https://earlybirdsinvest.com/avoidable-errors-wiped-a-years-worth-of-gary-genslers-texts-oops/ https://earlybirdsinvest.com/avoidable-errors-wiped-a-years-worth-of-gary-genslers-texts-oops/#respond Fri, 05 Sep 2025 03:45:29 +0000 https://earlybirdsinvest.com/avoidable-errors-wiped-a-years-worth-of-gary-genslers-texts-oops/

A Securities and Exchange Commission investigation into missing text messages from former chair Gary Gensler’s phone between October 2022 and September 2023 has concluded that “avoidable errors” led to their loss. 

The SEC Office of Inspector General (OIG) investigated how nearly a year’s worth of text messages from Gary Gensler were permanently lost between October 2022 and September 2023, during the height of the agency’s crypto enforcement action campaign.

In a report released on Wednesday, the OIG revealed that the SEC’s IT department “implemented a poorly understood and automated policy that caused an enterprise wipe of Gensler’s government-issued mobile device,” which deleted stored text messages and operating system logs.  

The loss was worsened by poor change management, lack of proper backups, ignored system alerts and unaddressed vendor software flaws.

The IT department failed to collect or maintain necessary log data, which is why the commission could not determine why Gensler’s smartphone stopped communicating with the SEC’s mobile device management system.

Timeline of events leading to the loss of Gensler’s text messages. Source: SEC

Key communications about crypto enforcement actions were lost 

The OIG found that some of Gensler’s deleted texts involved SEC enforcement actions against crypto companies and their founders, meaning that key communications about how and when the SEC pursued cases may never be fully known, even to courts, Congress or the public.

Related: Judge has ‘strong views’ about Coinbase inquiry into Gensler’s private msgs

Investigators reviewed about 1,500 messages recovered from colleagues and other records. They determined that the majority were federal records, with around 38% of the recovered text conversations “mission related” concerning matters directly involving SEC senior staff at the time, such as: 

“A May 2023 conversation involving Gensler, his staff, and the Director of the Division of Enforcement about when the SEC would be filing an action against certain crypto asset trading platforms and their founder.”

SEC crackdown on recordkeeping 

Around the same time that Gensler’s messages were disappearing into a black hole, the SEC cracked down on the use of messaging apps. Several global investment banking and financial institutions were charged with violating record-keeping and books-and-records laws under the 1934 Securities and Exchange Act. 

“Finance, ultimately, depends on trust. By failing to honor their recordkeeping and books-and-records obligations, the market participants we have charged today have failed to maintain that trust,” said Gensler at the time. 

Undermining transparency in crypto decisions

The SEC has since disabled text messaging on most devices, notified the National Archives and Records Administration of lost records, introduced Capstone-specific records training for senior officials, and started improving backup practices for senior officials’ devices.

“The loss of Gensler’s text messages may impact the SEC’s response to certain Freedom of Information Act requests,” it stated. 

Gensler, who stepped down in January, was infamous in the crypto community for his bait-and-switch offer to “come in and get registered,” which pre-empted multiple SEC actions against companies that claimed they tried to do exactly that. Enforcement actions against crypto companies reached a 10-year high in 2023.  

“Think about everything that happened in crypto during this time. Basically, FTX collapse through the Grayscale spot BTC ETF lawsuit,” observed NovaDius Wealth Management President Nate Geraci, who added“makes you think.”

“So Gary Gensler’s text messages from his tenure as SEC chairman are forever lost in a mysterious ‘boating accident’ ???,” quipped Custodia Bank founder Caitlin Long. 

Magazine: Korean bill to legalize ICOs, Chinese firm’s Ethereum RWAs mystery: Asia Express

]]> https://earlybirdsinvest.com/avoidable-errors-wiped-a-years-worth-of-gary-genslers-texts-oops/feed/ 0 56835 JD Vance Blasts Gary Gensler at Bitcoin 2025 Conference, Promises Full Cryptocurrency Deregulation https://earlybirdsinvest.com/jd-vance-blasts-gary-gensler-at-bitcoin-2025-conference-promises-full-cryptocurrency-deregulation/ https://earlybirdsinvest.com/jd-vance-blasts-gary-gensler-at-bitcoin-2025-conference-promises-full-cryptocurrency-deregulation/#respond Wed, 28 May 2025 22:02:47 +0000 https://earlybirdsinvest.com/jd-vance-blasts-gary-gensler-at-bitcoin-2025-conference-promises-full-cryptocurrency-deregulation/

Last updated: 


Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas – from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

U.S. Vice President JD Vance doubled down on the Trump administration’s deregulatory stance toward the crypto sector in remarks at the Bitcoin 2025 Conference in Las Vegas on Wednesday.

During his speech, Vance reaffirmed the administration’s opposition to former United States Securities and Exchange Commission (SEC) Chair Gary Gensler’s regulation-by-enforcement approach to cryptocurrencies.

“We reject regulators,” Vance said. “We fired Gary Gensler, and we’re going to fire everybody like him.”

The former Senator from Ohio further claimed that the Trump administration is committed to cleaning up the “wreckage” from former U.S. President Joe Biden’s administration, which saw extensive guardrails placed on the blockchain sector.

“We prioritize eliminating the rules, the red tape, and the lawfare that we saw aimed at our crypto by our predecessors,” Vance said. “We’re ending the weaponization of federal regulations against this community. To put it simply, Operation Chokepoint 2.0 is dead, and it is not coming back under the Trump administration.”

“With President Trump, crypto finally has a champion and an ally in the White House,” he added.

Trump’s Crypto Ties Face Scrutiny

Vance’s comments come just days after Trump hosted an exclusive dinner for the top 220 investors of his namesake memecoin at Trump National Golf Club in Washington, D.C.

Critics of the event argue that the gala may have violated key presidential ethics provisions, citing concerns over potential foreign influences’ ability to purchase the cryptocurrency.

In a May 14 letter, three key Democratic members of the House of Representatives urged U.S. Treasury Secretary Scott Bessent to unseal suspicious activity reports (SARs) into “politically oriented” Trump-affiliated ventures.

“Because the identities of the coin purchasers need not be publicly disclosed, there is no way to tell who is buying the coin, potentially allowing bad actors, including authoritarian governments and companies they control, to enrich the Trump family,” the House members said of $TRUMP.

The U.S. lawmakers have asked the requested SARs to be returned by May 30, though it remains unclear how Bessent will proceed.


]]> https://earlybirdsinvest.com/jd-vance-blasts-gary-gensler-at-bitcoin-2025-conference-promises-full-cryptocurrency-deregulation/feed/ 0 38855 Gary Gensler Was Not Anti-Crypto Behind Closed Doors, Says McHenry https://earlybirdsinvest.com/gary-gensler-was-not-anti-crypto-behind-closed-doors-says-mchenry/ https://earlybirdsinvest.com/gary-gensler-was-not-anti-crypto-behind-closed-doors-says-mchenry/#respond Thu, 15 May 2025 05:49:26 +0000 https://earlybirdsinvest.com/gary-gensler-was-not-anti-crypto-behind-closed-doors-says-mchenry/

Former Congressman Patrick McHenry stated that Gary Gensler, who led the US Securities and Exchange Commission (SEC), may have held a more balanced view on cryptocurrency in private than he did in his public role.

Speaking on the Crypto in America podcast on May 13, McHenry shared details about his earlier conversations with the former SEC chair.

When asked directly if Gensler seemed anti-crypto in private meetings, McHenry replied, “No… Nope”.

What is Web3? (Animated Explanation + Examples)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is Web3? (Animated Explanation + Examples)

What is Web3? (Animated Explanation + Examples)
What is Web3? (Animated Explanation + Examples)

He went on to explain that in one-on-one conversations, Gensler often recognized the value of blockchain and digital assets. McHenry said Gensler’s time at MIT gave him a solid understanding of the industry, and that he had once viewed digital assets as a promising development in finance.

Gerald Gallagher, general counsel at Sei Labs, added that Gensler’s academic work included contributions to the idea of the “airdrop”, a method for distributing crypto tokens.

Still, McHenry said he was surprised by how Gensler changed once he became SEC chair. He admitted he had wrongly assumed that Gensler would take a more balanced approach.

McHenry described conversations with Gensler during his time at the SEC as confusing. He said discussions would often begin with agreement, only for Gensler to walk back his earlier points later in the same meeting. McHenry noted that this made it difficult to reach clear decisions on crypto regulation.

In McHenry’s view, Gensler’s actions were shaped by “Senate politics and confirmation politics”, rather than his own understanding of the technology.

Meanwhile, SEC Chair Paul Atkins recently discussed how blockchain technology could create new methods for managing investments. What did he say? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/gary-gensler-was-not-anti-crypto-behind-closed-doors-says-mchenry/feed/ 0 36307 Crypto Ally Paul Atkins Sworn In to Replace Gary Gensler Atop U.S. SEC https://earlybirdsinvest.com/crypto-ally-paul-atkins-sworn-in-to-replace-gary-gensler-atop-u-s-sec/ https://earlybirdsinvest.com/crypto-ally-paul-atkins-sworn-in-to-replace-gary-gensler-atop-u-s-sec/#respond Tue, 22 Apr 2025 15:30:11 +0000 https://earlybirdsinvest.com/crypto-ally-paul-atkins-sworn-in-to-replace-gary-gensler-atop-u-s-sec/

Paul Atkins has taken the oath to formally become chairman of the U.S. Securities and Exchange Commission, which returns Mark Uyeda to his previous role as a Republican Commissioner after three busy months of service as the agency’s stand-in chief.

Atkins permanently replaces the former chair, Gary Gensler, who the crypto industry had widely seen as its chief antagonist in the U.S. government. But Uyeda and fellow Commissioner Hester Peirce have already put the SEC on a path toward greater acceptance of digital assets, forming a crypto task force, shedding a long list of industry enforcement actions and gathering industry representatives at a series of crypto roundtables. The agency’s staff also released statements announcing various corners of crypto as outside its securities jurisdiction.

The new chairman said he’s honored by the “trust and confidence” Trump and the U.S. Senate placed in him and is pleased to start work with the other commissioners.

“Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business,” he said in a statement.

Atkins, who was confirmed by the Senate as President Donald Trump’s nominee earlier this month, had previously served as an SEC commissioner and ran a Washington consulting firm focused on compliance and policy matters. In addition to his Wall Street ties, Atkins had also taken on advisory roles with crypto firms.

The Senate easily approved Atkins with a 52-44 vote, though the Senate Banking Committee had advanced his confirmation along party lines. All the panel’s Democrats opposed the nominee, including Senator Elizabeth Warren, who criticized Atkins’ previous tenure at the SEC from 2002 to 2008, tying it to the 2008 global financial crisis.

The SEC is facing a considerable crypto agenda, potentially made more complicated by Trump’s personal business interests in the industry, including in World Liberty Financial’s stablecoin and in memecoins (such as the president’s own $TRUMP). Its eventual crypto regulations, though, will largely be directed by future legislation that’s now a priority in Congress.

Atkins’ tenure will begin with an incomplete commission, with just four of its five members in place. And the sole Democrat — Caroline Crenshaw — is occupying an already expired term. The White House hasn’t yet moved to fill the two Democratic slots on the commission, and other regulators have seen Trump attempt to strip Democratic members of their positions.

Read More: Trump’s Pick to Run SEC Paul Atkins Promises New Crypto Stance, Gets Few Questions

]]> https://earlybirdsinvest.com/crypto-ally-paul-atkins-sworn-in-to-replace-gary-gensler-atop-u-s-sec/feed/ 0 32226