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U.S. Regulator Told Banks to Avoid Crypto, Letters Obtained by Coinbase Reveal

Coinbase's Paul Grewal says this is hard evidence proving the industry hasn't been spouting conspiracy theories about being shoved out of U.S. banking.

By Jesse Hamilton|Edited by Nikhilesh De

Updated Dec 6, 2024, 10:20 p.m. Published Dec 6, 2024, 1:56 p.m.

FDIC ordered banks to stay away from crypto. — Chairman Martin Gruenberg's Federal Deposit Insurance Corp. told U.S. banks not to do crypto business in letters now revealed. (Kevin Dietsch/Getty Images)