CoinDesk Podcast Network BITCOIN SEASON 2: Operation Chokepoint 2.0 Gets Choked Out
Feb 12, 2025
The crypto landscape faces ongoing battles with regulatory pressures, particularly from Operation Chokepoint 2.0. A recent Capitol Hill hearing revealed shifting sentiments as Senators addressed the implications for the industry. The fallout from the FTX collapse and the story of Silvergate Bank highlight the struggles faced by crypto-friendly institutions. The discussion also touches on the hypocrisy of political stances and the potential for a brighter regulatory future amidst the chaos.
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Debanking Experience
- Charlie was personally and corporately debanked multiple times.
- This experience reflects the wider issue of debanking in the crypto industry.
Crypto Banking Challenges
- Crypto has faced banking challenges since its association with Silk Road.
- FTX's collapse further fueled the narrative of crypto's inherent risk.
Increased Scrutiny
- FTX's collapse triggered increased scrutiny of crypto-friendly banks like Silvergate.
- Senators Warren, Kennedy, and Marshall questioned Silvergate's involvement with FTX.