So, now we know. Operation Chokepoint 2.0 was real.
There really was a co-ordinated federal government effort to de-bank crypto following the collapse of three mid-sized crypto-friendly lenders (Signature, Silvergate and Silicon Valley Bank) in March 2023. The crypto industry, led by VC-commentator Nic Carter, has long suspected and railed against de-banking. But, until today, we didn’t have much documentary evidence.
Friday morning, internal communications at the Federal Deposit Insurance Corp were released after a research firm (History Associates Inc.) hired by Coinbase sued to get them uncovered.
“The heavily-redacted documents emerged on Friday, showing the banking regulator slamming the brakes on lenders offering or considering products and services in the digital assets sector,” CoinDesk’s Jesse Hamilton wrote in his report today.
“We respectfully ask that you pause all crypto asset-related activity,” the FDIC wrote in one
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Author: Benjamin Schiller
