Golden Finance reported that new documents show that in 2022, the U.S. Federal Deposit Insurance Corporation (FDIC) recommended that banks suspend crypto-related activities due to unresolved regulatory risks. Coinbase’s investigation into these actions found that the FDIC blocked financial institutions from providing services to the crypto industry more than 20 times. In response to the FDIC's stance, Ripple Chief Technology Officer David Schwartz criticized the FDIC's actions against cryptocurrencies on social media, questioning the logic of taking enforcement action in an environment of regulatory uncertainty, especially after Coinbase publicly revealed that the FDIC was trying to block banks. After supporting the industry.