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Leaked recordings reveal alarming practices within the FDIC, including alleged FOIA evasion tactics, media manipulation, and cover-ups of sexual misconduct. Whistleblowers accuse executives of insider trading and express concerns over the agency's relevance amid the rise of blockchain technology. The crypto community has reacted strongly, with calls for investigations into the allegations.
Attorney John E. Deaton has called for a congressional investigation into the FDIC's actions regarding crypto-related banking, alleging a coordinated effort to marginalize the digital asset sector through "Operation ChokePoint 2.0." Deaton claims that recent FDIC directives to banks to pause crypto services reflect a politically motivated attempt to restrict access to financial infrastructure, potentially stifling lawful businesses. He warns that such regulatory overreach could undermine institutional integrity and innovation.
Operation Choke Point 2.0 is an alleged initiative by the Biden administration aimed at restricting crypto firms' access to banking services, drawing parallels to a previous program under Obama. Critics argue that regulatory actions from agencies like the SEC and FDIC have pressured banks to sever ties with the crypto industry, despite official denials of the program's existence. Trump has pledged to dismantle this initiative if re-elected, echoing his previous efforts to end the original Operation Choke Point.
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fdic recordings reveal misconduct allegations and concerns over crypto regulation
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19:12 13.01.2025
calls for congressional investigation into fdic's crypto banking directives
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trump vows to end operation choke point 2.0 targeting crypto industry
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