Docs showing Biden admin giving cold shoulder to crypto alarms industry leaders
Leaders in the cryptocurrency space are up in arms over documents that were recently uncovered showing the Biden administration instructed banks not to engage in cryptocurrency business.
The uncovered documents allegedly confirm suspicions that cryptocurrency tech founders were being “debanked” under a program known colloquially as “Operation Chokepoint 2.0.”
Chris Lane, the former chief technical officer of Silvergate Bank, accused federal regulators of contributing to his bank’s collapse after the documents were released Friday.
“Silvergate became what it was serving cryptocurrency clients,” Lane wrote on social media. “[Crypto was a] strategic vertical we started focusing on in 2013. Regulators came in sometime in Spring 2023 and…
