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

Gunnar Larson g at xny.io
Thu May 25 02:47:04 PDT 2023


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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