cryptojournalist
Ripple’s CTO, David Schwartz, says the government is hooked on using indirect tactics to control industries, especially crypto. He pointed to Operation Chokepoint 2.0, where banks were pressured to drop crypto clients, effectively shutting them out of the system.
“It’s easier for them to tell banks to cut us off than to legally ban us,” Schwartz said, arguing this undermines basic rights like free speech and due process.
Tech Founders Speak Out
Mark Andreesen said over 30 tech firms were hit by this crackdown. Sam Kazemian of Frax Finance even claimed JPMorgan Chase shut his accounts in 2022.
Coinbase CEO Brian Armstrong is digging into the issue, filing a legal request for government records about the operation.
Crypto and the Banking War
Nic Carter from Castle Island Ventures blamed the Biden administration for killing Silvergate Bank, a major player in crypto banking, just to hurt the industry. He believes the bank could have survived without interference.
Many in the crypto world now hope Trump’s administration will ease off on these harsh tactics.
