As a seasoned crypto investor with over a decade of experience in this dynamic and rapidly evolving market, I find myself increasingly concerned about the ongoing discussions surrounding Operation Chokepoint 2.0. The experiences shared by industry leaders such as Brad Garlinghouse and Caitlin Long resonate deeply with me, given my own encounters with banking institutions that seem less than enthusiastic about embracing the digital asset revolution.
Discussions regarding Operation Chokepoint 2.0 are escalating on cryptocurrency X, as pro-crypto attorney John Deaton has expressed a firm stance on this matter. In response to a post from Jesse Powell, founder and CEO of Kraken Exchange, Deaton urged for an investigation into the apparent attempt to disconnect the crypto industry financially.
Operation Chokepoint 2.0 – Time For Probe
Jesse Powell shared insights about Kraken’s struggle against debanking from U.S. financial institutions, emphasizing that the company narrowly avoided closure by concentrating more on expanding its operations in Europe instead.
John Deaton pointed out that Ripple CEO Brad Garlinghouse and Custodia Bank CEO Caitlin Long had encountered similar situations, which he then referred to by tagging the accounts of President-elect Donald Trump, Vice-President-elect JD Vance, Elon Musk, and Scott Bessent. His intent was to draw attention to Operation Chokepoint 2.0 for further investigation.
According to John Deaton’s advice, he proposed that the new leadership should consider designating an impartial investigator to handle the probe. Interestingly, he also mentioned Nic Carter as a potential candidate for the task force.
Significantly, it was Nic Carter who initially coined the term Operation Chokepoint 2.0. He is recognized as the first to identify the unusual focus in the attempt to disconnect cryptocurrency companies. Furthermore, numerous individuals such as John Deaton and Coinbase CEO Brian Armstrong have suggested that Senator Elizabeth Warren may be orchestrating this plan.
According to what Deaton stated, the CEO of Coinbase speculates that the ongoing conflict against cryptocurrencies, particularly by Elizabeth Warren, may have contributed to the Democrats’ loss in the recent election.
Will Donald Trump Change The Game?
Investigating Operation Chokepoint 2.0 might occur in the future, given that U.S. President-elect Donald Trump appears open to establishing a favorable regulatory climate for the cryptocurrency sector.
Trump’s decision to foster a welcoming regulatory climate could involve selecting someone supportive of cryptocurrencies to lead the U.S. Securities and Exchange Commission (SEC). With several potential candidates being discussed for the SEC Chair position, John Deaton is hopeful that the upcoming leader will spur investigations into various aspects of the industry.
Even though I’m not acquainted with Jesse, reading about such incidents where people like @bgarlinghouse, @CaitlinLong_, and others have been de-banked has made me extremely upset without knowing him personally.
Dear: @realDonaldTrump @JDVance @elonmusk @VivekGRamaswamy @DavidSacks @howardlutnick and…
— John E Deaton (@JohnEDeaton1) November 28, 2024
Previously, Gary Gensler announced his intention to step down from his position as Chairman. As a result, contenders such as Brad Bondi, Paul Atkins, and Brian Brooks have emerged as potential replacements for the role. In response, major players in the industry are urging the SEC to scrutinize any potential overreach or excesses within its operations.
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2024-11-29 11:58