PANews reported on March 3 that Fox Business News reporter Eleanor Terrett posted on the X platform that Coinbase has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC) to disclose the SEC's non-fraud investigations and enforcement action expenses against the crypto industry during the tenure of former Chairman Gary Gensler.

The request covers regulatory enforcement actions involving digital asset sales, secondary market transactions, pledges and lending from April 17, 2021 to January 20, 2025. Coinbase hopes to obtain the number and names of related investigations and lawsuits, as well as detailed information such as the working hours, salaries of SEC employees and outsourced personnel, and the budgets of the crypto assets and cybersecurity departments.

Coinbase Chief Legal Officer Paul Grewal said the move is aimed at improving regulatory transparency and hopes that the new SEC leadership will strengthen accountability. However, the SEC has not yet responded.