FDIC
62,404 views
59 Discussing
Hot
Latest
See original
👩Senator Lummis Exposes FDIC’s Alleged Destruction of Key Documents Related to 'Operation Chokepoint 2.0'
Wyoming Senator Cynthia Lummis recently sent a formal letter to Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg, expressing concerns about the potential destruction of documents related to digital asset activities within the FDIC.
Lummis revealed that a whistleblower contacted her office, accusing the FDIC of destroying relevant documents. She believes this action is illegal and has requested the retention of all records related to cryptocurrency activities since January 2022.
In her letter, Lummis disclosed that the whistleblower has been under close surveillance by FDIC management and has faced threats of legal action to prevent communication with her office. She condemned such behavior by the FDIC, stating it attempts to conceal materials related to 'Operation Chokepoint 2.0', which is unacceptable and illegal. This operation is alleged to be aimed at preventing the cryptocurrency industry from accessing traditional banking services.
Last year, the cryptocurrency industry expressed concerns about how regulators were handling cryptocurrency-related banking operations. During a meeting in August, several industry representatives discussed these issues with White House officials. Although Deputy Secretary of the Treasury Wally Adeyemo denied any attempts to block cryptocurrency from entering the financial system, nearly all attendees reported experiencing limited banking services due to White House policies.
As a result, Lummis instructed the FDIC to retain all documents related to digital asset activities from January 1, 2022, covering communications with specific banks, correspondence regarding cryptocurrency enforcement actions, and records of coordination on digital asset policies with other government agencies.
Lummis clearly stated in her letter that she would spare no effort in pursuing criminal responsibility for any deliberate destruction of documents or obstruction of oversight. She firmly emphasized the indispensable nature of transparency and committed to uncovering the facts and disclosing the truth for the American people.
💬 Do you think Lummis's accusations against the FDIC are justified? Will the cryptocurrency industry see a new turning point as a result?
#FDIC #加密货币监管 #透明度与监督
Wyoming Senator Cynthia Lummis recently sent a formal letter to Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg, expressing concerns about the potential destruction of documents related to digital asset activities within the FDIC.
Lummis revealed that a whistleblower contacted her office, accusing the FDIC of destroying relevant documents. She believes this action is illegal and has requested the retention of all records related to cryptocurrency activities since January 2022.
In her letter, Lummis disclosed that the whistleblower has been under close surveillance by FDIC management and has faced threats of legal action to prevent communication with her office. She condemned such behavior by the FDIC, stating it attempts to conceal materials related to 'Operation Chokepoint 2.0', which is unacceptable and illegal. This operation is alleged to be aimed at preventing the cryptocurrency industry from accessing traditional banking services.
Last year, the cryptocurrency industry expressed concerns about how regulators were handling cryptocurrency-related banking operations. During a meeting in August, several industry representatives discussed these issues with White House officials. Although Deputy Secretary of the Treasury Wally Adeyemo denied any attempts to block cryptocurrency from entering the financial system, nearly all attendees reported experiencing limited banking services due to White House policies.
As a result, Lummis instructed the FDIC to retain all documents related to digital asset activities from January 1, 2022, covering communications with specific banks, correspondence regarding cryptocurrency enforcement actions, and records of coordination on digital asset policies with other government agencies.
Lummis clearly stated in her letter that she would spare no effort in pursuing criminal responsibility for any deliberate destruction of documents or obstruction of oversight. She firmly emphasized the indispensable nature of transparency and committed to uncovering the facts and disclosing the truth for the American people.
💬 Do you think Lummis's accusations against the FDIC are justified? Will the cryptocurrency industry see a new turning point as a result?
#FDIC #加密货币监管 #透明度与监督
🚨 BREAKING: The #FDIC permits banks to participate in crypto-related activities without prior approval, provided that risks are adequately managed.
Midday News Update #Web3
📊 Wintermute OTC and derivatives trading surged over 300% in 2024, driven by institutional demand and deeper liquidity. Memecoin OTC trading grew 210%, reflecting rising institutional interest.
🪙 #stablecoin market cap surpasses $210B, hitting a new all-time high with a 1.81% increase in the past week. $USDC saw a 5.43% rise, reaching $48.2B.
🏛 The #FDIC is accused of withholding key crypto-related "pause letters" in a Coinbase-backed FOIA lawsuit, with allegations of 150 missing documents linked to "Operation Chokepoint 2.0."
🔄 Institutional investors are shifting from Nvidia to crypto ETFs, with Millennium and Capula cutting #NVDA holdings and boosting BlackRock's IBIT Bitcoin ETF by millions of shares.
🎁 $MIRA's largest holder transferred 52.3M tokens to #TRUMP , with another 100M locked in the DAO treasury pending a vote. 10% of locked tokens will be burned to support rare disease research.
📊 Wintermute OTC and derivatives trading surged over 300% in 2024, driven by institutional demand and deeper liquidity. Memecoin OTC trading grew 210%, reflecting rising institutional interest.
🪙 #stablecoin market cap surpasses $210B, hitting a new all-time high with a 1.81% increase in the past week. $USDC saw a 5.43% rise, reaching $48.2B.
🏛 The #FDIC is accused of withholding key crypto-related "pause letters" in a Coinbase-backed FOIA lawsuit, with allegations of 150 missing documents linked to "Operation Chokepoint 2.0."
🔄 Institutional investors are shifting from Nvidia to crypto ETFs, with Millennium and Capula cutting #NVDA holdings and boosting BlackRock's IBIT Bitcoin ETF by millions of shares.
🎁 $MIRA's largest holder transferred 52.3M tokens to #TRUMP , with another 100M locked in the DAO treasury pending a vote. 10% of locked tokens will be burned to support rare disease research.
See original
Senator Lummis declares that the FDIC has destroyed documents related to Chokepoint 2.0 Campaign
Lummis wrote: “You must ensure your staff immediately stop destroying any materials and cease retaliatory actions.”
Wyoming Senator Cynthia Lummis sent a letter to the Federal Deposit Insurance Corporation, stating that whistleblowers informed her that the agency allegedly destroyed documents related to the Chokepoint 2.0 Campaign.
Lummis has directed the government agency to stop document destruction and preserve all records related to “digital asset activity,” including monitoring Signature Bank and liquidating Silvergate Bank. The senator warned the FDIC:
“If it is discovered that you or your staff intentionally destroy documents or attempt to obstruct the Senate’s oversight function, I will swiftly refer criminal records to the U.S. Department of Justice.”
Chokepoint 2.0 Campaign — a joint effort to cut off cryptocurrency-related companies from banking services — has had widespread impacts on the industry in many countries and is a significant challenge for industry lobbying groups in the upcoming 2024 U.S. elections.
Cryptocurrency founders speak out against financial targeting
After Marc Andreessen, co-founder of Andreessen Horowitz, appeared on The Joe Rogan Experience, more than 30 cryptocurrency founders took to social media to share their withdrawal experiences.
Lummis wrote: “You must ensure your staff immediately stop destroying any materials and cease retaliatory actions.”
Wyoming Senator Cynthia Lummis sent a letter to the Federal Deposit Insurance Corporation, stating that whistleblowers informed her that the agency allegedly destroyed documents related to the Chokepoint 2.0 Campaign.
Lummis has directed the government agency to stop document destruction and preserve all records related to “digital asset activity,” including monitoring Signature Bank and liquidating Silvergate Bank. The senator warned the FDIC:
“If it is discovered that you or your staff intentionally destroy documents or attempt to obstruct the Senate’s oversight function, I will swiftly refer criminal records to the U.S. Department of Justice.”
Chokepoint 2.0 Campaign — a joint effort to cut off cryptocurrency-related companies from banking services — has had widespread impacts on the industry in many countries and is a significant challenge for industry lobbying groups in the upcoming 2024 U.S. elections.
Cryptocurrency founders speak out against financial targeting
After Marc Andreessen, co-founder of Andreessen Horowitz, appeared on The Joe Rogan Experience, more than 30 cryptocurrency founders took to social media to share their withdrawal experiences.
See original
Shocking news: #FDIC (Federal Deposit Insurance Corporation) opens the door for banks to enter the world of crypto after years of resistance! 😱
#FDIC is reconsidering guidelines to allow banks to offer crypto services without prior approval. Now we may see token deposits as banks race to compete with stablecoins. 💵🔥
FDIC Chairman: “This decision reflects our commitment to transparency.” 📝
What do you think? A positive step towards adoption or a new beginning for restrictions
#FDIC is reconsidering guidelines to allow banks to offer crypto services without prior approval. Now we may see token deposits as banks race to compete with stablecoins. 💵🔥
FDIC Chairman: “This decision reflects our commitment to transparency.” 📝
What do you think? A positive step towards adoption or a new beginning for restrictions
Trump appointed cryptocurrency-friendly Mark Waid as head of the SEC after Gensler's departure
President Donald Trump began his new term with high-profile appointments. One of them was the temporary appointment of Mark Wajda, known for his critical statements about the approach of the U.S. Securities and Exchange Commission (SEC) to cryptocurrencies, as acting chairman of the agency. Wade, a Republican, was replaced by Gary Gensler, whose strict policy of regulating the crypto industry caused a mixed reaction.
Criticism of the SEC's past leadership
Mark Wajda has previously openly criticized Gensler's methods, calling them "poorly thought-out crypto policies." Together with Hester Pierce, another SEC member from the Republican Party, Wade has repeatedly stressed the need for clearer and more transparent rules to regulate the cryptocurrency market. They pointed out that the existing conditions were unacceptable, especially with regard to secondary trading of crypto assets, which created problems for market participants.
The SEC's new deal?
Now that the SEC has a Republican majority, the future of cryptocurrency policy in the United States may change dramatically. Among the possible steps is a review of the current rules, as well as the initiation of processes aimed at clarity regarding the regulation of the crypto industry. The SEC, under Wade's leadership, is expected to begin work on reviewing court cases initiated during Gensler's time, which could affect large crypto companies.
The role of Travis Hill and other assignments
Trump also appointed Travis Hill as interim chairman of the Federal Deposit Insurance Corporation (FDIC). Hill, like Wade, argued for the need for clear guidelines for banks working with cryptocurrencies. These appointments indicate the new administration's commitment to reforming cryptocurrency policy and creating favorable conditions for the industry.
What's next?
The cryptocurrency industry is watching with interest the first steps of the new leadership of the SEC and the FDIC. Will these changes benefit the market by creating long-awaited clarity, or will they cause new controversy?
Do you think such SEC leadership will be able to really improve the conditions for the cryptocurrency industry, or will their efforts face new challenges?
#SEC #FDIC #DonaldTrump
Criticism of the SEC's past leadership
Mark Wajda has previously openly criticized Gensler's methods, calling them "poorly thought-out crypto policies." Together with Hester Pierce, another SEC member from the Republican Party, Wade has repeatedly stressed the need for clearer and more transparent rules to regulate the cryptocurrency market. They pointed out that the existing conditions were unacceptable, especially with regard to secondary trading of crypto assets, which created problems for market participants.
The SEC's new deal?
Now that the SEC has a Republican majority, the future of cryptocurrency policy in the United States may change dramatically. Among the possible steps is a review of the current rules, as well as the initiation of processes aimed at clarity regarding the regulation of the crypto industry. The SEC, under Wade's leadership, is expected to begin work on reviewing court cases initiated during Gensler's time, which could affect large crypto companies.
The role of Travis Hill and other assignments
Trump also appointed Travis Hill as interim chairman of the Federal Deposit Insurance Corporation (FDIC). Hill, like Wade, argued for the need for clear guidelines for banks working with cryptocurrencies. These appointments indicate the new administration's commitment to reforming cryptocurrency policy and creating favorable conditions for the industry.
What's next?
The cryptocurrency industry is watching with interest the first steps of the new leadership of the SEC and the FDIC. Will these changes benefit the market by creating long-awaited clarity, or will they cause new controversy?
Do you think such SEC leadership will be able to really improve the conditions for the cryptocurrency industry, or will their efforts face new challenges?
#SEC #FDIC #DonaldTrump
See original
📢 URGENT: 🇺🇸 FDIC general release — American banks can enter crypto without asking for a license. Is it happening now? 🏦🧵
The FDIC (the agency that insures bank deposits in the US) has lifted the brakes:
banks no longer need prior approval to operate with crypto.
Yes, that same Chase Bank that blocked deposits to Coinbase…
Now it can launch a DEX with cashback in stablecoin. Welcome to timeline 2025. 😂
📌 Official source: fdic.gov
🧠 Perspective (very degen):
• Bank of America will issue the $BOAcoin, stable, regulated, and with free membership to the mileage club.
• Wells Fargo will launch an NFT of bank statements — limited edition.
• And JPMorgan is already farming the institutional version of $PEPE, with APY and compliance.
⚠️ But not everything is a lambo in the garage:
– There will be banks rebranding old products with a Web3 label
– KYC will become the new “I agree to the cookies”
– Your airdrop will have to be explained on the IRS Form 1040 💀 💀
💡 Real opportunity:
✅ Institutional stablecoins like $JPMUSD or $USDF are gaining strength
✅ RWA (tokenized real-world assets) is expected to explode
✅ The integration of TradFi + DeFi is becoming increasingly inevitable
✅ There will be staking with FDIC seal and cold wallet in the bank vault
💬 So, are you going to open a digital account at JPMorgan to receive yield in ETH, or will you continue your degen journey in the anonymous mode of Metamask?
The future is coming. And now it has IBAN, audited, and facial KYC. 😂
#FDIC #CRIPTOBR
The FDIC (the agency that insures bank deposits in the US) has lifted the brakes:
banks no longer need prior approval to operate with crypto.
Yes, that same Chase Bank that blocked deposits to Coinbase…
Now it can launch a DEX with cashback in stablecoin. Welcome to timeline 2025. 😂
📌 Official source: fdic.gov
🧠 Perspective (very degen):
• Bank of America will issue the $BOAcoin, stable, regulated, and with free membership to the mileage club.
• Wells Fargo will launch an NFT of bank statements — limited edition.
• And JPMorgan is already farming the institutional version of $PEPE, with APY and compliance.
⚠️ But not everything is a lambo in the garage:
– There will be banks rebranding old products with a Web3 label
– KYC will become the new “I agree to the cookies”
– Your airdrop will have to be explained on the IRS Form 1040 💀 💀
💡 Real opportunity:
✅ Institutional stablecoins like $JPMUSD or $USDF are gaining strength
✅ RWA (tokenized real-world assets) is expected to explode
✅ The integration of TradFi + DeFi is becoming increasingly inevitable
✅ There will be staking with FDIC seal and cold wallet in the bank vault
💬 So, are you going to open a digital account at JPMorgan to receive yield in ETH, or will you continue your degen journey in the anonymous mode of Metamask?
The future is coming. And now it has IBAN, audited, and facial KYC. 😂
#FDIC #CRIPTOBR
See original
The Crypto Market Welcomes Positive Signals from FDIC
The cryptocurrency community has received good news as #FDIC has decided to remove 'reputational risk' from its oversight criteria, similar to what OCC did earlier.
This is an important step, as this criterion was previously misused to close the accounts of many legitimate businesses, including crypto companies. The removal of this regulation could help blockchain companies access financial services more easily, facilitating the industry's continued robust growth.
In the context of an increasing number of countries developing clearer legal frameworks for crypto, the FDIC's move is a positive signal, paving the way for collaboration between the traditional financial sector and blockchain. This could be a sign that the regulatory environment in the U.S. is becoming more open to cryptocurrencies, creating new momentum for the market. 🚀 #anhbacong
The cryptocurrency community has received good news as #FDIC has decided to remove 'reputational risk' from its oversight criteria, similar to what OCC did earlier.
This is an important step, as this criterion was previously misused to close the accounts of many legitimate businesses, including crypto companies. The removal of this regulation could help blockchain companies access financial services more easily, facilitating the industry's continued robust growth.
In the context of an increasing number of countries developing clearer legal frameworks for crypto, the FDIC's move is a positive signal, paving the way for collaboration between the traditional financial sector and blockchain. This could be a sign that the regulatory environment in the U.S. is becoming more open to cryptocurrencies, creating new momentum for the market. 🚀 #anhbacong
See original
Is it going to take another two years for crypto to go bankless? The Federal Reserve's knife is still not sheathed!
Don't fantasize about regulatory relaxation; the pressure for crypto to go bankless may continue until January 2026! Until Trump has the power to replace members of the Federal Reserve, the Democratic-controlled Federal Reserve will still firmly control the situation, relentlessly pursuing pro-crypto banks, even directly sending examiners in to suffocate the banks!
Although the OCC and FDIC may ease up, as long as the Federal Reserve does not change its stance, the banking channels for the crypto industry will still be choked off, and compliant stablecoins will also struggle to have a good time! In the next two years, those who can survive in the cracks of regulation are the ones who will be qualified to welcome the next bull market! #OCC #FDIC #ETC #trb👀 #usd $BTC $ETH $XRP
Don't fantasize about regulatory relaxation; the pressure for crypto to go bankless may continue until January 2026! Until Trump has the power to replace members of the Federal Reserve, the Democratic-controlled Federal Reserve will still firmly control the situation, relentlessly pursuing pro-crypto banks, even directly sending examiners in to suffocate the banks!
Although the OCC and FDIC may ease up, as long as the Federal Reserve does not change its stance, the banking channels for the crypto industry will still be choked off, and compliant stablecoins will also struggle to have a good time! In the next two years, those who can survive in the cracks of regulation are the ones who will be qualified to welcome the next bull market! #OCC #FDIC #ETC #trb👀 #usd $BTC $ETH $XRP
See original
Cryptocurrency craze in the US could be a disaster, experts say...
US President Donald Trump has promised that digital assets will play a crucial role in innovation, economic development and the country's international leadership. Some experts fear that the new American leader's decisions will lead to disaster.
The Economist reports that the Biden administration has been working hard to keep the crypto industry out of Wall Street. Strict regulations have made it prohibitively expensive for banks to hold digital assets on behalf of clients and have prevented them from creating their own crypto products, such as stablecoins - tokens pegged to the dollar or other assets. But that could change now.
The Economist reports that the Biden administration has been working hard to keep the crypto industry out of Wall Street. Strict regulations have made it prohibitively expensive for banks to hold digital assets on behalf of clients and have prevented them from creating their own crypto products, such as stablecoins - tokens pegged to the dollar or other assets. But that could change now.
"Challenging the status quo: FDIC's Travis Hill defends the rights of crypto firms to fair banking services."
🚨 FDIC Interim Chair Criticizes Agency's Approach to Cryptocurrency Firms 🚨
According to Odaily, Travis Hill, the interim chair of the U.S. Federal Deposit Insurance Corporation (FDIC), has recently taken a strong stance against 'de-banking' practices targeting cryptocurrency companies. In a groundbreaking speech, Hill highlighted that several crypto-related businesses have lost banking services without clear reasons—a practice he firmly labeled as 'unacceptable.'
Hill emphasized the FDIC's mission to reduce the number of unbanked individuals and made it clear that denying lawful customers access to essential banking services contradicts this goal. He urged that FDIC staff must not pressure banks to terminate relationships with lawful crypto firms.
This bold statement marks a pivotal moment for the crypto industry, potentially paving the way for more inclusive financial services.
#CryptoNews #FDIC #BankingNews #CryptocurrencyPotential #Binance
🚨 FDIC Interim Chair Criticizes Agency's Approach to Cryptocurrency Firms 🚨
According to Odaily, Travis Hill, the interim chair of the U.S. Federal Deposit Insurance Corporation (FDIC), has recently taken a strong stance against 'de-banking' practices targeting cryptocurrency companies. In a groundbreaking speech, Hill highlighted that several crypto-related businesses have lost banking services without clear reasons—a practice he firmly labeled as 'unacceptable.'
Hill emphasized the FDIC's mission to reduce the number of unbanked individuals and made it clear that denying lawful customers access to essential banking services contradicts this goal. He urged that FDIC staff must not pressure banks to terminate relationships with lawful crypto firms.
This bold statement marks a pivotal moment for the crypto industry, potentially paving the way for more inclusive financial services.
#CryptoNews #FDIC #BankingNews #CryptocurrencyPotential #Binance
🗣️PACK THAT FDIC! ☢️PACK'EM ALL❗
🪙 Former US banking regulators have lost their influence over the crypto industry. According to a new executive order from Donald Trump, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) have lost their right to participate in the working group on digital assets.🚀
🎖️The US President signed an executive order aimed at removing banking barriers for Web3 companies and creating a clearer regulatory framework for digital assets. The document provides for the formation of a special working group that will promote US leadership in the crypto industry and assess the prospects for creating a strategic national reserve for digital assets.
$BTC
#TRUMP #FDIC #Bankless #Reserve
🪙 Former US banking regulators have lost their influence over the crypto industry. According to a new executive order from Donald Trump, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) have lost their right to participate in the working group on digital assets.🚀
🎖️The US President signed an executive order aimed at removing banking barriers for Web3 companies and creating a clearer regulatory framework for digital assets. The document provides for the formation of a special working group that will promote US leadership in the crypto industry and assess the prospects for creating a strategic national reserve for digital assets.
$BTC
#TRUMP #FDIC #Bankless #Reserve
📣Happening Now
🗣️The Federal Deposit Insurance Corporation (#FDIC ) is planning to meet with banks to discuss #crypto custody and token deposits and with authorities as it aims to allow banks to engage in some #cryptocurrency activities✔️
#Write2Earn #cryptoTrends2025
🗣️The Federal Deposit Insurance Corporation (#FDIC ) is planning to meet with banks to discuss #crypto custody and token deposits and with authorities as it aims to allow banks to engage in some #cryptocurrency activities✔️
#Write2Earn #cryptoTrends2025
See original
[Exclusive Revelation] FDIC 'De-banking' Cryptocurrency Companies? New Chairman Speaks Out: Unacceptable!
According to the latest report from Odaily Planet Daily, Travis Hill, the acting chairman of the Federal Deposit Insurance Corporation (FDIC), publicly acknowledged for the first time in a highly anticipated speech that the agency has engaged in 'de-banking' behavior towards cryptocurrency companies, expressing profound reflection and criticism on this matter.🔥
🔍 Core points hit directly
The phenomenon of 'de-banking' draws attention: Travis Hill pointed out that some cryptocurrency companies have been deprived of banking services without reasonable explanation. This practice not only harms the legitimate rights and interests of enterprises but also contradicts the FDIC's goal of reducing the number of unbanked individuals. He clearly stated that it is unacceptable to deprive lawful customers of their bank accounts.
See original
U.S. Investigates the "Shut Out" of Crypto in Banks – The Mysteries Behind the Choke Point Campaign
The U.S. government is conducting a major investigation into allegations that cryptocurrency companies were "shut out" by banks during the administration of President #JoeBiden . This is a crucial step to clarify moves that are believed to limit the growth of the cryptocurrency industry.
1. The Official Investigation Begins
Last Friday, the Chairman of the U.S. House Oversight Committee, James Comer, sent letters to several leaders in the crypto industry, including Marc Andreessen (Andreessen Horowitz), Brian Armstrong (CEO of Coinbase), and Hayden Adams (founder of Uniswap), requesting information on companies being denied services by banks.
1. The Official Investigation Begins
Last Friday, the Chairman of the U.S. House Oversight Committee, James Comer, sent letters to several leaders in the crypto industry, including Marc Andreessen (Andreessen Horowitz), Brian Armstrong (CEO of Coinbase), and Hayden Adams (founder of Uniswap), requesting information on companies being denied services by banks.
📢 BREAKING NEWS 🗞️:
🇺🇸 FDIC SAYS BANKS CAN ENGAGE IN CRYPTO ACTIVITIES WITHOUT PRIOR APPROVAL NEEDED.
THIS IS BULLISH 🚀
#CryptoNewss #Market_Update #FDIC
guys like and follow for more updates and
comment your thoughts.👇
🇺🇸 FDIC SAYS BANKS CAN ENGAGE IN CRYPTO ACTIVITIES WITHOUT PRIOR APPROVAL NEEDED.
THIS IS BULLISH 🚀
#CryptoNewss #Market_Update #FDIC
guys like and follow for more updates and
comment your thoughts.👇
Login to explore more contents