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Coinbase Chasing Receipts at SEC to Tally Cost of Agency`s Crypto Saga

As the smoke clears on its own newly dropped enforcement case , Coinbase is demanding the U.S. Securities and Exchange Commission cough up a record of its spending on investigations and actions against the wider industry in recent years The biggest U.S. crypto exchange is filing a Freedom of Information Act request — using its contractor History Associates Inc. — to obtain internal agency accounting for the expense of its enforcement campaign involving digital assets businesses. The document seeks total costs for investigations and enforcement actions in the past four years; a listing of targeted companies; the numbers of employees and contractors working on the cases; and financial information about the running of the previous leadership`s crypto enforcement unit. The SEC has been under new management since the inauguration of President Donald Trump, who elevated Commissioner Mark Uyeda to be acting chairman. Uyeda began a dramatic reversal of the agency`s crypto stance , replacing legal officials, snuffing out investigations and dismissing long-running court cases, including the one against Coinbase. "We`re asking the SEC to produce this information voluntarily and subject to their FOIA obligations, without making Coinbase or anybody else have to go to court to get what we think the American people deserve to know," said Coinbase Chief Legal Officer Paul Grewal, in an interview with CoinDesk. Coinbase has pursued the SEC in federal court before on public-records disputes, and the company`s effort to reveal communications about the regulator`s internal discussions on crypto oversight is still an active case. Even as the agency has freed digital assets businesses from enforcement cases, some in the industry have called for the SEC to pay more harshly for the way it handled the sector under Chair Gary Gensler, including requests to fire more staff who were involved. Grewal insisted that this records request isn`t retaliatory but that transparency about what happened is necessary. "This is not just about Coinbase or anybody else taking a victory lap or trying to rub the SEC or anybody else`s nose in their admission that the last four years were a mistake," he said. "This is much more about learning the lessons of history so that we never have to repeat them." While the public has a right to view government documents, the process for obtaining them often runs into agency roadblocks and can stretch into months or years. And the SEC can cite exceptions that include cases remaining active, which still includes a number of crypto matters involving such firms as Kraken, Ripple and Crypto.com. But Grewal said closed cases such as Coinbase`s and the many other firms getting good news in recent days should be available to scrutiny. "Let`s get the facts on the table," Grewal said. "Let`s tally up what the costs were. Let`s consider whether there were some benefits that ought to be measured as well. And then let`s decide, is this what we want for our country and for our economy, and how do we craft rules to make sure that this doesn`t happen again?" Read More: U.S. Regulator Told Banks to Avoid Crypto, Letters Obtained by Coinbase Reveal CoinTurk News

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Amid US Treasury Crypto Reserve Split Opinions, Could It Mean Good News for Best Meme Coins Like Meme Index?

US President Donald Trump announced yesterday that altcoins will be included in the government’s crypto strategic reserve. It’s an interesting move that has been met with mixed reactions. Could we potentially see meme coin indexes being added to the reserve? Bitcoin was initially the only cryptocurrency expected to feature in the US crypto reserve. However, Trump’s recent announcement means Ether, XRP, Solana, and Cardano are also expected to be included. The cryptocurrency market has been buoyed by the news, with Reuters reporting a 10% increase in the hours following Trump’s announcement on his social media platform Truth Social. It’s a welcome sight after a dismal week during which $BTC sunk to below $79K. Let’s see what this means for the industry. Crypto Heavyweights Weigh in on Trump’s Big News Whitehouse AI and crypto czar David Sacks quickly took to X in support of the president. Other crypto heavyweights, however, aren’t as convinced. ‘Nothing new here. Just words,’ was BitMex co-founder Arthur Hayes’ response to Sacks’ post. Hayes also pointed out that congressional backing would be needed to add altcoins to the proposed strategic reserve. Binance founder and former CEO Changpeng Zhao had a more optimistic response, writing on X that ‘it’s a fantastic start of something really good. Be happy. Keep building.’ He went on to say that ‘more “valuable crypto” are likely to be added over time. More countries will follow. Coinbase CEO Brian Armstrong also voiced his thoughts on X , saying it would probably be best not to add altcoins to the reserve. But, he added, ‘if folks wanted more variety, you could do a market cap weighted index of crypto assets to keep it unbiased.’ Will Meme Coin Indexes Ever be Included in the US Crypto Reserve? For now it appears Trump’s focus is on adding OG altcoins – $ETH, $ADA, $SOL, and $XRP to the reserve. But that’s not to say the best meme coins are out for the count. Bear in mind that 2024 was a magnificent year for the meme coin market. According to a report by CEX.io , its collective market capitalization grew by 330%, while meme coins’ share of the altcoin market volume went up by 350%. In other words, investors are sitting up and taking notice. That’s why $DOGE, $SHIB, $PEPE, and co should be taken seriously. And it’s not just the meme coin OGs we’re talking about. Newcomers to the market such as Solaxy ($SOLX), MIND of Pepe ($MIND), and Meme Index ($MEMEX) are potential game changers. $MEMEX in particular has a very attractive proposition – asset diversification. This, by the way, is why Trump wants to add altcoins to the strategic reserve. After all, there are few better ways to manage risk than through diversification. Meme Index is the world’s first decentralized meme coin index. Currently in presale, it gives investors exposure to the meme coin market but with varying volatility levels. $MEMEX does this through four meme coin baskets (indexes) – Titan, Moonshot, Midcap, and Frenzy. The Titan Index includes the meme coin market big boys, among them $DOGE and $FLOKI. Investing in this index may mean slower rewards, but low volatility is a definite plus. The Frenzy Index is on the other end of the spectrum. Hot, trending meme coins with high volatility but potentially explosive gains. This one will appeal to degens with no fear in their eyes who laugh at the risk. Somewhere in the middle are the Moonshot and Midcap indexes – a more gentle balance of lower volatility than the Frenzy Index, and potentially better rewards than the Titan Index. Wrapping Up As the past couple of weeks more than reminded us, the crypto market can be unpredictable, to say the least. That’s why we believe $MEMEX could very well be one of this year’s best altcoins to invest in . And with the presale soon set to end, there’s no better time to climb on board. Since launching in early December, the $MEMEX presale has raised close to $4M. And right now, 1 $MEMEX costs $0.0166883 (with 583% staking rewards). Check out our full guide on how to get your hands on $MEMEX before the presale ends in just four weeks. Be sure to DYOR research too, though. The official Meme Index whitepaper is a good starting point, and visit the $MEMEX Telegram and X channels for regular updates. And who knows… Now that altcoins are set to join Bitcoin in Trump’s strategic reserve, perhaps it won’t be long until $DOGE, $PEPE, $MEMEX, and other top meme coins are added to the growing list. CoinTurk News