PANews reported on October 1st that, according to Cointelegraph, U.S. House Republicans sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins, requesting an investigation into former SEC Chairman Gary Gensler's deletion of official text messages during his tenure. The SEC's Office of Internal Oversight (OIG) noted in a report in early September that the SEC's transparency and compliance during Gensler's tenure were questionable.

The report shows that the SEC's Information Technology Department implemented an erroneous automated policy that resulted in the complete wipe of Gensler's government-issued phone, deleting text messages from October 2022 to September 2023.

Republican lawmakers criticized Gensler for having a double standard, suing several financial institutions in 2023 for recordkeeping failures and collecting more than $400 million in fines while failing to ensure its own institution's compliance record.