A bombshell report released on September 16, 2025, by the Securities and Exchange Commission’s Office of Inspector General (OIG) has ignited a firestorm of speculation and outrage, particularly within the MMTLP investor community.
The report, titled “Special Review: Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler’s Text Messages” (Report No. 587), details a series of technical mishaps that resulted in the deletion of text messages from Gensler’s government-issued smartphone between October 18, 2022, and September 6, 2023.
The timing of this loss, which coincides with significant events surrounding the MMTLP stock halt, has fueled accusations of intentional cover-up and obstruction of justice.
The OIG Report: A Timeline of Errors
According to the OIG report, the loss stemmed from a cascade of avoidable mistakes.
On October 18, 2022, the SEC’s Capstone program was expanded to mandate the permanent retention of senior officials’ communications, including Gensler’s texts.
However, on July 6, 2023, Gensler’s smartphone lost connectivity to the mobile device management (MDM) system, going unnoticed for 62 days.
This triggered a new 45-day wipe policy implemented on August 10, 2023, leading to an enterprise wipe of Gensler’s device on September 6, 2023.
Despite attempts by the SEC’s Office of Information Technology (OIT) and the Division of Enforcement IT Forensics Lab to recover the data, the messages were irretrievably lost.
The report notes that had proper protocols been followed, the messages would not have been at risk.
The delay in reporting the loss—only disclosed to the National Archives and Records Administration (NARA) on June 27, 2025, and to the public on September 16, 2025—has raised eyebrows.
The OIG investigation, initiated on January 17, 2024, also revealed potential message losses from 21 additional devices, further complicating the narrative.
MMTLP Community Speculation on X
The MMTLP community, a group of investors affected by the controversial halt of the MMTLP stock in December 2022, has been vocal on X, connecting the dots between Gensler’s lost messages and alleged SEC misconduct.
Kurtis (@bleedblue18), a prominent voice in the community, posted on September 10, 2025: “$MMTLP Former SEC Chair Gary Gensler has a long history of avoiding transparency with communications.
The SEC OIG report where his government issued phone text messages have been wiped in the same time period as the MMTLP U3 Halt and SEC & FINRA collusion is only the latest.
DEMAND A HEARING NOW!”.
Adding to the speculation, JunkSavvy (@JunkSavvy) posted on September 18, 2025: “SOMEBODY’S GOT SOME ESPLAININ’ TO DO… SEC OIG RELEASES REPORT Special Review: Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler’s Text Messages…
How could Gensler’s text messages from October 2022-September 2023 be deleted on September 6, 2023, and a portion of them (November 2022-January 2023) be delivered via a FOIA to an MMTLP investor in May 2025???
CLEARLY, NARA IS NOT THE ONLY SOURCE OF SUCH INFORMATION.
WHAT IS THE SEC HIDING???”.
The community’s frustration centers on the period from November 2022 to January 2023, which includes the MMTLP U3 halt on December 8, 2022—a move that many investors believe was orchestrated to their detriment.
The revelation that some of Gensler’s messages from this period were later obtained via a Freedom of Information Act (FOIA) request in May 2025 has led to wild speculation about alternate sources of the data, with some suggesting the National Security Agency (NSA) or internal SEC backups might hold the key.
Allegations of Intentional Obstruction
The MMTLP community is not alone in its skepticism.
The OIG report’s conclusion that the loss was due to “avoidable errors” has been met with derision.
JunkSavvy’s post questions the plausibility of the timeline, asking, “Where did FOIA source the text messages delivered in the FOIA if Gensler’s device had been ‘wiped’???” This has led to theories of intentional data destruction, with @bleedblue18 asserting, “Glitch transparency isn’t an accident. It’s the business model.”
The community has called for congressional intervention, with tags to @Jim_Jordan, @JamesComer, and @GOPoversight trending on X.
The demand for a hearing reflects a broader distrust, with some investors, like @JunkSavvy, asking, “Whose were the ‘21 additional devices’ that suffered potential message losses???”
The implication is that the SEC may be shielding multiple officials involved in the MMTLP saga.
Moving Forward
The loss of Gensler’s text messages raises serious questions about compliance with the Federal Records Act and transparency laws.
If the deleted messages contained discussions about MMTLP or other high-profile cases, their absence could hinder investigations into potential securities law violations.
The SEC’s history of “off-channel” communications, as highlighted in a 2022 letter from Congress to Gensler (referenced in earlier X posts), adds fuel to the fire, suggesting a pattern of evading accountability.
As of September 18, 2025, the SEC has not issued a public response to the OIG report beyond the management’s proposed corrective actions, which the OIG deemed “responsive.”
However, the MMTLP community vows to keep pushing, with plans for protests and further FOIA requests.
Whether this scandal will lead to a congressional hearing or deeper scrutiny of the SEC remains to be seen, but one thing is clear: the loss of Gary Gensler’s text messages has opened a Pandora’s box of suspicion and demands for justice.
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