The Breakdown The History of Operation Chokepoint 2.0
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Feb 7, 2025 
Nick Carter, a crypto venture investor known for coining "Operation Chokepoint 2.0," dives into the recent regulatory shifts impacting the cryptocurrency sector. He discusses the reversal of anti-crypto regulations by the FDIC and reflects on their historical context. The conversation covers the regulatory pressures faced by crypto banks following the FTX collapse and explores how the industry is adapting through lawsuits and legislative efforts. Carter emphasizes the potential for improved cooperation between the crypto community and government, highlighting future innovation opportunities.
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Chokepoint 1.0
- Operation Choke Point 1.0 targeted legal businesses (2013-2017).
- Regulators pressured banks to deny services to payday lenders and gun sellers.
Coined Term
- "Operation Chokepoint 2.0" was coined by Nick Carter.
- It describes actions restricting crypto access to banking.
Early Signals
- On December 6, 2022, three senators sent a letter to Silvergate Bank criticizing their crypto dealings.
- The next day, Signature Bank announced a reduction in crypto deposits.