FDIC Stonewalls Transparency on "Operation Chokepoint 2.0" Despite Trump’s Crypto Freedom Pledge
The Federal Deposit Insurance Corporation (FDIC) is digging in its heels, resisting full disclosure of its role in the shadowy "Operation Chokepoint 2.0", a suspected campaign to choke crypto businesses out of the banking system. Even with President Trump’s January executive order vowing to dismantle these restrictions and unleash Web3 innovation, the FDIC’s latest dodge has crypto insiders fuming:
What are they hiding?
Coinbase Chief Legal Officer Paul Grewal dropped a bombshell on March 8, 2025, accusing the FDIC of handing over just “snippets” of irrelevant documents in response to Freedom of Information Act (FOIA) requests 53 pages fully redacted, others butchered beyond recognition. This comes after a February document dump of 790 pages hinted at FDIC pressure on banks to ditch crypto clients, including "pause letters" from 2022 that stalled services cold. Yet, the full story remains buried. Grewal’s team is now demanding sworn testimony, but the FDIC isn’t budging.
Trump’s pledge to end this crypto banking stranglehold blamed for tanking firms like Silvergate and Signature lit a fire under the industry. So why is the FDIC still playing coy? Theories swirl: Are they covering up a Biden era overreach that kneecapped U.S. crypto dominance? Protecting banks from liability? Or just stalling until the heat dies down? Posts on socials suggest conspiracy, with users pointing to unredacted emails due March 13 that could blow the lid off.
The stakes? Crypto’s $2.5 trillion market cap hangs in the balance, and the FDIC’s blackout risks America’s edge in the global race. If Trump’s serious about unshackling digital assets, the FDIC’s game of hide and seek might just be the next showdown. Stay woke truth is coming. ✊️
