00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Coinbase settled its SEC records lawsuit Wednesday, securing $150,000 in attorney fees,
00:09two previously withheld documents and changes to the agency's record retention practices,
00:14according to Benzinga. Coinbase filed the case in 2024 after accusing regulators of
00:19coordinating to restrict crypto companies' access to banking services. In a Wall Street Journal op-ed,
00:24Chief Legal Officer Paul Gruel accused former SEC Chair Gary Gensler of waging a legal campaign
00:31against the crypto industry and said the agency lost related text messages in an automatic data
00:37wipe. Gruel said changes to FDIC and SEC disclosure and record-keeping practices will improve transparency
00:43and reduce future agency overreach. CEO Brian Armstrong said the bill is close to passage
00:50before the August recess following years of bipartisan work. The agreement came one day
00:55after Coinbase shares jumped 10% on optimism surrounding the Digital Asset Market Clarity Act
01:01and remained down 58.19% over the past year. For all things money, visit Benzinga.com.
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