The U.S. Securities and Exchange Commission has reached a settlement in a Freedom of Information Act lawsuit filed by Coinbase. The securities regulator has agreed to award the crypto exchange $150,000 for lost text messages under Gary Gensler-led SEC. Coinbase chief legal officer Paul Grewal announced the FOIA lawsuit settlement between the US SEC and Coinbase, as per a WSJ op-ed on July 22. This marks another legal victory for the crypto exchanges amid ongoing efforts to increase crypto regulatory clarity.