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Operation Chokepoint 2.0

Senator Lummis claims FDIC destroyed Operation Chokepoint 2.0 docs

Coin Telegraph
Senator Lummis claims FDIC destroyed Operation Chokepoint 2.0 docs
Coin Telegraph

"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.

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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Federal Reserve bank regulator Michael Barr to step down

Coin Telegraph
Federal Reserve bank regulator Michael Barr to step down
Caitlin Long

Fed’s Barr once said the Federal Reserve would “likely view it as unsafe and unsound for banks to directly own crypto-assets on their balance sheets.”

The United States Federal Reserve’s Michael Barr is set to resign as vice chair for supervision — marking the latest exit by a US official apparently linked to “Operation Chokepoint 2.0” — a purportedly concerted federal effort to debank crypto companies. 

Barr’s resignation will take effect on Feb. 28 — or earlier, if a successor is appointed, he said in a Jan. 6 letter addressed to US President Joe Biden. 

Barr will, however, continue to serve as a member of the Federal Reserve Board of Governors.

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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

FDIC Releases Redacted Operation Choke Point 2.0 Letters

Bitcoin.com
FDIC Releases Redacted Operation Choke Point 2.0 Letters
bitcoin.com
FDIC Releases Redacted Operation Choke Point 2.0 LettersThe letters serve as a damning indictment of the government’s alleged anti-crypto policies. How the FDIC Secretly Stifled Banks’ Crypto-Related Activities The Federal Deposit Insurance Corporation (FDIC), an entity originally formed to restore trust in the American banking system, on Friday, quietly released letters it had previously sent to banks prohibiting them from engaging in […]
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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Pro-crypto lawyer John Deaton offers to probe Operation Chokepoint 2.0

Coin Telegraph
Pro-crypto lawyer John Deaton offers to probe Operation Chokepoint 2.0
Coin Telegraph

Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.

Former United States prosecutor and crypto advocate John Deaton has offered the incoming Trump administration to lead a probe into Operation Chokepoint 2.0 — an unconfirmed initiative that allegedly attempted to cut crypto companies from the traditional banking system.

“If these actions go unchallenged, it creates a dangerous precedent where regulatory bodies can quietly suppress entire industries they disfavor, stifling innovation, competition, and economic opportunity,” Deaton said in a Jan. 4 X post addressed to incoming United States President Donald Trump, Vice President JD Vance and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.

“This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton said in the X post, which was also addressed to Secretary of Commerce Howard Lutnik and David Sacks, who will lead Trump’s AI and crypto “czar.”

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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Crypto Hedge Funds Are Quietly Getting Debanked, Survey Shows

Bitcoin.com
Crypto Hedge Funds Are Quietly Getting Debanked, Survey Shows
bitcoin.com
Crypto Hedge Funds Are Quietly Getting Debanked, Survey ShowsCoinbase’s Chief Legal Officer issued a rallying cry to the industry, demanding answers after the survey results were published. Operation Chokepoint 2.0 Targets Crypto Hedge Funds Three quarters of 160 crypto hedge funds polled, reported difficulty accessing banking services according to a recent survey – and Coinbase is not very happy about it. The survey […]
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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Relationship building is a hedge against debanking — OKX exec

Coin Telegraph
Relationship building is a hedge against debanking — OKX exec
Banking

Documents released on Dec. 6 show the Federal Deposit Insurance Corporation (FDIC) asked banks to pause crypto-related activities.

The entire crypto industry faced threats of debanking under Operation Chokepoint 2.0. Jason Lau — the chief innovation officer at crypto exchange and self-custody wallet provider OKX — told Cointelegraph that fostering relationships with banks and keyholders was a hedge against debanking.

Lau said the traditional financial world is heavily based on trust and that relationship-building with banking institutions, financial regulators, and other stakeholders was key to maintaining solid partnerships. Lau told Cointelegraph in an interview:

Many Operation 2.0 debanking stories came from the United States and US-based entities. However, debanking remains a global problem with implications for business, technological innovation, and freedom of speech.

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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

‘Government has become addicted to indirect regulation’ — Ripple CTO

Coin Telegraph
<div>'Government has become addicted to indirect regulation' — Ripple CTO</div>
Coin Telegraph

In a recent Joe Rogan interview, Mark Andreesen revealed that the debanking of tech firms caused the Silicon Valley shift toward Trump.

Ripple chief technical officer David Schwartz recently joined the list of tech founders speaking out against Operation Chokepoint 2.0 — a government-run debanking operation against the crypto industry. Schwartz said the government is "addicted to indirect regulation" and laid out four reasons why de-banking undermines the rule of law.

Schwartz argued that debanked entities switch service providers or take their funds underground — thereby evading surveillance and sanctions control altogether. The CTO also said de-banking undermines due process, freedom of speech, and the right against unlawful search and seizure. Schwartz wrote:

"It is easier to pressure banks to cut off disfavored businesses than to make that business illegal," The CTO continued before imploring the government to use lawful and above-board processes to regulate businesses.

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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Kamala Harris’s Blockchain Comment Sparks Mixed Reactions in Crypto Community

Bitcoin.com
Kamala Harris’s Blockchain Comment Sparks Mixed Reactions in Crypto Community
AI
Kamala Harris’s Blockchain Comment Sparks Mixed Reactions in Crypto CommunityVice President Kamala Harris’s remarks on fostering technologies like artificial intelligence (AI) and blockchain have sparked plenty of chatter in the crypto community. While some see her words as encouraging and forward-thinking, others believe Harris is merely pandering and looking to gain political support. VP Harris Faces Skepticism Over Blockchain Statement Amid Ongoing Crypto Crackdown […]
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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Tyler Winklevoss Warns Operation Chokepoint 2.0 Remains in Full Swing

Bitcoin.com
Tyler Winklevoss Warns Operation Chokepoint 2.0 Remains in Full Swing
bitcoin.com
Tyler Winklevoss Warns Operation Chokepoint 2.0 Remains in Full SwingTyler Winklevoss, co-founder of U.S.-based exchange Gemini and VC firm Winklevoss Capital, has alerted about the ongoing status of Operation Chokepoint 2.0, a plan directed to difficult banking access to crypto companies. Winklevoss’ remarks come after the Federal Reserve found Customers Bank, a crypto-friendly bank, had “deficiencies” in compliance with anti-money laundering requirements. Tyler Winklevoss […]
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Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

Two Low-Cap Memecoins Set To Go Higher Amid Low Market Sentiment, According to Crypto Analyst

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