A federal judge is reportedly ruling that top US-based crypto exchange Coinbase must face a class action lawsuit in New York. According to a new report from Reuters, Paul Engelmayer, a judge for the Southern District of New York, is rejecting Coinbase’s argument that it did not qualify as a “statutory seller” to dismiss a […]
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The Federal Insurance Deposit Corporation (FDIC) is unsealing hundreds of documents that expose how US institutions were instructed to be deprived of crypto-related services. In a new press release, the FDIC – the government agency that insures deposits in US banks – says it is unveiling 175 documents revealing how it supervised banks that participated […]
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US regulators have abruptly shut down a bank in Illinois in the first bank failure of 2025. The Federal Deposit Insurance Corporation (FDIC) says the Illinois Department of Financial and Professional Regulation (IDFPR) has closed Pulaski Savings Bank. The FDIC has been appointed as the receiver and has transferred all deposit accounts and most of […]
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Coinbase’s chief legal officer Paul Grewal is accusing the Federal Deposit Insurance Corporation (FDIC) of stonewalling the top US-based crypto exchange’s request for public records. In a new thread on the social media platform X, Grewal accuses the FDIC of being deceitful and refusing to hand over vital records pertaining to how the federal agency […]
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The Federal Deposit Insurance Corporation (FDIC) is penalizing a Weir, Kansas-based bank with a monetary fine equal to over a quarter of the lender’s total assets. The US banking regulator says it has determined that CBW Bank failed to maintain an “adequate Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) compliance program” and is consequently imposing […]
The post US Banking Regulator FDIC Hits Bank With $20,448,000 Penalty – About a Quarter of the Lender’s Total Assets appeared first on The Daily Hodl.
U.S. Senator Cynthia Lummis (R-WY) wants the Federal Deposit Insurance Corporation (FDIC) to secure materials that could be related to the US government’s alleged efforts to de-bank crypto firms. In a new letter to FDIC chair Marty Gruenberg, Lummis says whistleblowers claim that the deposit insurer is destroying materials linked to its digital asset activities. […]
The post Whistleblowers Allege FDIC Officials Are Destroying Documents Related to Operation Chokepoint 2.0: Senator Lummis appeared first on The Daily Hodl.
"You must ensure your staff cease and desist destruction of all materials and end retaliatory actions immediately," Lummis wrote.
Wyoming Senator Cynthia Lummis sent a letter to the Federal Deposit Insurance Corporation (FDIC) claiming that whistleblowers informed her that the agency allegedly destroyed documents related to Operation Chokepoint 2.0.
Lummis instructed the government agency to cease the destruction of documents and preserve all records related to "digital asset activities," including the supervision of Signature Bank and the liquidation of Silvergate Bank. The Senator warned the FDIC:
Operation Chokepoint 2.0 — a concerted effort to cut off crypto-related firms from banking services — widely impacted the industry in multiple countries and was a major pain point for industry advocacy groups during the 2024 United States election.
The comments were part of a speech on Friday titled “Charting a New Course.” Did the FDIC Just Confess to Crypto Debanking? Federal Depositary Insurance Corporation (FDIC) Vice Chairman Travis Hill delivered a speech on Friday condemning the agency’s “Choke Point-like tactics” and urging the organization to take “a new approach to digital assets.” Hill’s […]
The vice chairman of the Federal Deposit Insurance Corporation says the regulator needs a “new direction” – and that he expects it to begin later this month. In a new speech, Vice Chairman Travis Hill acknowledges that the FDIC sent “pause” letters to over 20 banks, asking them to stop doing business with crypto firms […]
The post FDIC Vice Chairman Calls for Clear and Transparent Crypto Regulation Following Trump Inauguration appeared first on The Daily Hodl.
America’s biggest banks are about to lock in their largest share of the banking industry’s profits in nearly ten years after an explosive run-up. JPMorgan Chase, Bank of America, Citigroup and Wells Fargo – the four largest banks in the US – recorded $88 billion in collective profits in the first nine months of the […]
The post JPMorgan Chase, Bank of America, Citigroup and Wells Fargo Consolidate Power Over Banking Industry Amid Record Profit Share: Report appeared first on The Daily Hodl.
