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 <a href=”https://www.coindesk.com/opinion/2023/03/22/the-reality-behind-the-crypto-banking-crackdown-operation-choke-point-20-is-here?_gl=1*ty8r43*_up*MQ..*_ga*MTg2ODk5NzQzMS4xNzMzNTA2ODIx*_ga_VM3STRYVN8*MTczMzUwNjgyMC4xLjAuMTczMzUwNjgyMC4wLjAuNzkzOTM0MjI0″ target=”_blank”>Nic Carter</a>, 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 b
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