TechFlow news, November 29 — According to The Block, multiple crypto industry executives have shared their similar experiences following a16z co-founder Marc Andreessen's mention on the Joe Rogan podcast that 30 founders had been "debanked" over the past four years. These actions are being referred to as "Operation Choke Point 2.0," describing how the government pressures banks to cut off crypto companies from financial services.
Marc Andreessen pointed out that the U.S. Securities and Exchange Commission (SEC) has frequently issued Wells notices to crypto firms under the current administration, including Uniswap Labs, Robinhood Crypto, and OpenSea, making it difficult for these companies to maintain banking services or operate normally. Roman Storm, co-founder of Tornado Cash, revealed he has been debanked multiple times over the past two and a half years. Caitlin Long, CEO of Custodia Bank, also stated her company has repeatedly faced such issues and has already filed a lawsuit against the Federal Reserve over this matter.
Trump, during his campaign, promised to end "Operation Choke Point 2.0" and establish a more crypto-friendly regulatory framework. Gemini co-founder Tyler Winklevoss believes the actual number of affected individuals far exceeds 30, while Kraken co-founder Jesse Powell and Coinbase CEO Brian Armstrong have also confirmed the widespread nature of this phenomenon.
