Money Stuff: The Podcast · Friday, July 24, 2026
The SEC's past crackdown on financial firms using personal phones for work communications, which resulted in billions in fines, is being re-examined following Coinbase's settlement with the agency. Coinbase received $150,000 from the SEC related to its own cell phone misuse, a stark contrast to the large penalties imposed on banks.
“JP Morgan paid like a two hundred million dollar fine, right, and the SEC goes after JP Morgan for the phones.”
“Coinbase has settled with the SEC, which has agreed to pay them one hundred and fifty thousand dollars for cel phone.”
“If I'm the banks who paid these penalties, like if you little attempted to like ask for a refund, you know, or partial refund, be like hey, guys, like can we see your can munications about cell phones and they're like, no, you can't because I was already know we deleted them all.”