Operation Chokepoint 2.0: The Fed's Secret War on Crypto with Caitlin Long
The Bitcoin Layer
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This chapter explores the ramifications of Operation Choke Point 2.0 on crypto banks, detailing the actions of federal regulators that seek to undermine these institutions post-FTX collapse. The discussion reveals the wider implications for the financial sector and its effects on the American populace.
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In this episode, Nik is joined by Caitlin Long to dissect the evolving landscape of crypto banking. She dives into the impact of Operation Chokepoint 2.0, exploring how government agencies viciously attacked the crypto sector. She explains how the powerful influence of the banking lobby shapes regulatory frameworks and sheds light on the inherent fragility of the traditional banking system and the dangers of blending crypto with legacy finance. The discussion also covers the double-edged nature of bitcoin ETFs, the regulatory disparity between small and big banks, and the rise of offshore dollar markets as a direct reaction to restrictive US policies. Caitlin specifically calls out Michael Barr, Elizabeth Warren, and Bharat Ramamurti as culprits in circumventing the rule of law to target the crypto industry.
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