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    1. coinfeeds-bot on

      tldr; The SEC is facing criticism after a report revealed that preventable IT errors and poor oversight led to the loss of text messages from SEC Chair Gary Gensler’s official phone during the critical period of the FTX collapse. Gensler’s phone stopped syncing in July 2023, and an automatic wipe policy erased data after 45 days of disconnection. A subsequent factory reset by the IT team permanently deleted messages from October 2022 to September 2023, overlapping with FTX’s bankruptcy and legal proceedings. Critics, including Coinbase’s CLO, have called this a ‚destruction of evidence.‘

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

    2. >According to the report, Gensler’s phone stopped syncing with the agency’s systems on July 6, 2023, due to an error. Afterward, his phone was automatically wiped, causing the loss of all data.

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      However, when the IT team tried to restore the phone, they mistakenly performed a factory reset. This erased all messages from October 18, 2022, through September 6, 2023.

      This is suspicious, 2 errors in a row, back to back.

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