Operation Chokepoint 2.0 refers to an alleged initiative during the Biden administration where federal regulators, including the Federal Deposit Insurance Corporation (FDIC), purportedly pressured banks to sever ties with cryptocurrency firms effectively denying them access to traditional banking services

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Operation Chokepoint 2.0 refers to an alleged initiative during the Biden administration where federal regulators, including the Federal Deposit Insurance Corporation (FDIC), purportedly pressured banks to sever ties with cryptocurrency firms effectively denying them access to traditional banking services

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Some US government agencies continue to deny transparency regarding their role in Operation Chokepoint 2.0, a period during the Biden administration when crypto and tech founders were allegedly denied banking services, according to Coinbase chief legal officer Paul Grewal
Coinbase has gone on the offensive against U.S. agencies that allegedly took action to keep cryptocurrency industry actors away from banking institutions. Paul Grewal, chief legal officer of Coinbase, explained that they are now scaling their discovery efforts to investigate the level of involvement of the Federal Deposit Insurance Corporation (FDIC) in Operation Chokepoint 2.0, a Biden administration campaign to de-bank crypto institutions and actors.

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