Your Freedom of Information Law (FOIL) Request FOIL-2023-093329-019299 (NY-DFS $100M Coinbase Compliance Settlement)

Thu Jun 15 04:06:28 PDT 2023

Dear Ms. Verdejo:

Concerning the Coinbase records matter, can you kindly advise?

Have a great day.

Thank you,

Gunnar

On Thu, May 25, 2023, 5:47 AM Gunnar Larson <g at xny.io> wrote:

> Dear Ms. Verdejo:
>
> Do you have an update on our FOIL request concerning access to the
> Coinbase records?
>
> Thank you,
>
> Gunnar
>
> Gunnar Larson
> xNY.io - Bank.org
> 917-580-8053
>
> On Tue, May 9, 2023, 5:06 PM Gunnar Larson <g at xny.io> wrote:
>
>> Ms. Verdejo:
>>
>> NY-DFS has yet to respond to your self imposed deadline of April 28, 2023
>> concerning xNY.io - Bank.org's FOIL request to your $100M Coinbase
>> Compliance Settlement.
>>
>> Today, Bloomberg reports: Ex-Coinbase Manager Gets 2 Years for Insider
>> Trading
>> https://www.bloomberg.com/news/articles/2023-05-09/ex-coinbase-manager-ishan-wahi-gets-2-years-for-insider-trading
>> .
>>
>> Superintendent Harris has conflicts concerning Coinbase and her past work
>> at Sullcrom.com. xNY.io - Bank.org is concerned NY-DFS may be obstructing
>> our FOIL request and/or has potentially colluded with Coinbase at the
>> detriment to cross-border digital asset innovation.
>>
>> This theme is similar to an ongoing FOIL request we have with your
>> esteemed office concerning Apple Card. Former Superintendent Lacewell has
>> potential conspiracy conflicts.
>>
>> In 2020, Goldman Sachs annoced plans to take Coinbase public. In 2022,
>> Goldman Sachs issued the first bank backed Bitcoin loan to Coinbase.
>>
>> Between Apple Card records and Coinbase records NY-DFS has delayed xNY.io
>> - Bank.org several times.
>>
>> As Superintendent Harris can understand, Bank.org has a Shelf Charter
>> application with NY-DFS ongoing and if another bank fails in New York we
>> would like to have a good working relationship. As such, with the Coinbase
>> records we seek any and all records associated with NY-DFS' relationship
>> with Sullcrom.com during the Coinbase investigation.
>>
>> Can NY-DFS kindly provide us an update on the Coinbase records by 5:00pm
>> tomorrow? We may be prompted to contact the New York State's Attorney
>> General's office with urgent plea to engage the State's false claims act.
>>
>> Warm regards,
>>
>> Gunnar
>>
>> Gunnar Larson
>> xNY.io - Bank.org
>> 917-580-8053
>>
>> On Thu, Apr 27, 2023, 7:51 AM Gunnar Larson <g at xny.io> wrote:
>>
>>> Ms. Verdejo:
>>>
>>> May xNY.io - Bank.org kindly request an update on your FOIL request the
>>> concerning Coinbase $100M Settlement?
>>>
>>> Today's memo is an administrative appeal for records access associated
>>> to FOIL-2023-093329-019299.
>>>
>>> Sening you the very best.
>>>
>>> Thank you,
>>>
>>> Gunnar
>>>
>>> Gunnar Larson
>>> xNY.io - Bank.org
>>> 917-580-8053
>>>
>>>
>>> On Mon, Apr 17, 2023, 7:50 AM Gunnar Larson <g at xny.io> wrote:
>>>
>>>> Ms. Verdejo:
>>>>
>>>> Would it be possible to receive an updated on the Coinbase records?
>>>>
>>>> Gunnar Larson
>>>>
>>>> On Fri, Mar 24, 2023, 11:52 AM <Joanne.Verdejo at dfs.ny.gov> wrote:
>>>>
>>>>> Good morning,
>>>>>
>>>>> Attached please find correspondence from the NYS Department of
>>>>> Financial Services, pertaining to your FOIL request.
>>>>>
>>>>>
>>>>>
>>>>> Thank you.
>>>>>
>>>>> Tracking Number:FOIL-2023-093329-019299
>>>>>
>>>>
>>>> G at xny.io
>>>> March 24, 2023
>>>> Gunnar Larson
>>>> xNY.io - Bank.org
>>>> 406 West 25th Street
>>>> New York, NY 10001
>>>> Re: FOIL Tracking No. 2023-093329
>>>> Dear Gunnar Larson:
>>>> I write with respect to your above-referenced FOIL request. The New
>>>> York State Department of
>>>> Financial Services (DFS) requires additional time to respond to your
>>>> request, assigned the
>>>> tracking number 2023-093329, because the Department requires additional
>>>> time to complete its
>>>> response.
>>>> DFS anticipates completing your request on or about April 28, 2023. We
>>>> appreciate your
>>>> continued patience.
>>>> Thank you.
>>>>
>>>>
>>>>
>>>>
>>>> ---------- Forwarded message ---------
>>>> From: <Joanne.Verdejo at dfs.ny.gov>
>>>> Date: Fri, Mar 24, 2023, 11:52 AM
>>>> Subject: Your Freedom of Information Law (FOIL) Request
>>>> FOIL-2023-093329-019299
>>>> To: <G at xny.io>
>>>>
>>>>
>>>> Good morning,
>>>>
>>>> Attached please find correspondence from the NYS Department of
>>>> Financial Services, pertaining to your FOIL request.
>>>>
>>>>
>>>>
>>>> Thank you.
>>>>
>>>> Tracking Number:FOIL-2023-093329-019299
>>>>
>>>> Thank you for submitting your FOIL request through Open FOIL NY.
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> Here is your Open FOIL NY confirmation information for future
>>>> reference:
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> LARSON_DFS_20230114152649702
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> LARSON_DOB_20230114152649702
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> LARSON_DTF_20230114152649702
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> INFORMATION SUBMITTED:
>>>>
>>>>
>>>>
>>>> Records Requested From
>>>>
>>>>
>>>>
>>>> Department of Financial Services
>>>>
>>>>
>>>>
>>>> Division of the Budget
>>>>
>>>>
>>>>
>>>> Department of Taxation and Finance
>>>>
>>>>
>>>>
>>>> Short Title
>>>>
>>>>
>>>>
>>>> Coinbase $100M Settlement Investigation Records
>>>>
>>>>
>>>>
>>>> Description
>>>>
>>>>
>>>>
>>>> Dear Madam or Sir: xNY.io - Bank.org kindly seeks access to any and all
>>>> records concerning New York State's investigation of Coinbase, comprising
>>>> the $100M settlement mentioned here:
>>>> https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202301041.
>>>> We are requesting all public records from 2018 to 2022 concerning New
>>>> York's aforementioned Coinbase investigation. Moreover, xNY.io - Bank.org
>>>> seeks access to any and all records concerning New York's regulatory
>>>> scrutiny (and/or approval) of Goldman Sachs' partnership with Coinbase,
>>>> issuing the bank's first Bitcoin loan mentioned here:
>>>> https://www.nasdaq.com/articles/goldman-sachs-partners-with-coinbase-for-banks-first-bitcoin-backed-loan.
>>>> In addition, xNY.io - Bank.org seeks any and all records concerning New
>>>> York's approach to Coinbase and Goldman Sachs compliance programs mandated
>>>> by the United States Department of Justice, Criminal Division, Fraud
>>>> Section and Money Laundering and Asset Recovery Section mentioned here:
>>>> https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r-m8N21_1Sp/view?usp=drivesdk.
>>>> Finally, xNY.io - Bank.org seeks records concerning New York's regulatory
>>>> approval of Coinbase engaging a fine of $50M to implement heightened
>>>> controls and additional procedures and policies relating to electronic
>>>> surveillance and investigation, due diligence on transactions or clients
>>>> and the use of third-party intermediaries across business units; and
>>>> enhancing anti-corruption training for all management and relevant
>>>> employees. Warm regards, Gunnar Larson Gunnar Larson xNY.io - Bank.org
>>>> 646-454-9107
>>>>
>>>>
>>>>
>>>> Uploaded Files
>>>>
>>>>
>>>>
>>>> FOIL Response Format
>>>>
>>>>
>>>>
>>>> Email
>>>>
>>>>
>>>>
>>>> If fees apply, please contact me if costs will be greater than
>>>>
>>>>
>>>>
>>>> $10000
>>>>
>>>>
>>>>
>>>> Your FOIL request has been forwarded to the organization(s) you
>>>> selected, and the respective Records Access Officer will contact you
>>>> directly for further processing of your request. Please allow up to five
>>>> business days for such communication(s). For your convenience, here is
>>>> additional contact information:
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> Department of Financial Services
>>>>
>>>>
>>>>
>>>> One State Street
>>>>
>>>>
>>>>
>>>> 20th Floor
>>>>
>>>>
>>>>
>>>> New York, NY 10004
>>>>
>>>
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