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The US Securities and Exchange Commission faces mounting criticism after revealing that nearly a year of text messages from Chair Gary Gensler’s phone were permanently deleted due to an IT error. Crypto industry leaders are calling the incident a serious breach of transparency and potential evidence destruction. The missing messages cover a critical period including the FTX collapse and major banking crises.
- SEC IT staff failed to detect Gensler's phone had stopped syncing for 62 days before mistakenly performing a factory reset that erased nearly a year of messages
- Missing messages cover critical period including FTX collapse, Silvergate Bank liquidation, and Silicon Valley Bank crisis that shaped crypto regulation
- Crypto leaders accuse SEC of evidence destruction relevant to ongoing litigation rather than innocent IT error
📎 Related coverage from: cryptoslate.com
Other Tags: FTX, Caitlin Long, Gary Gensler, Paul Grewal, Custodia Bank, Silicon Valley Bank, Silvergate Bank