Former US prosecutor and crypto advocate John Deaton will lead the investigation into Operation Chokepoint 2.0, an unidentified effort to force the incoming Trump administration to separate crypto companies from the traditional banking system. I suggested.
“If ignored, these actions will set a dangerous precedent in which regulators can quietly stifle entire unwilling industries, stifling innovation, competition, and economic opportunity,” Deaton said. said In a Jan. 4 post, he addressed U.S. President-elect Donald Trump, Vice President J.D. Vance, and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.
“This is not just a fight for cryptocurrencies; it is a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton said, along with Secretary of Commerce Howard Rutnik and David Sachs. In an X post addressed to him, he said: Who will lead President Trump's AI and crypto “emperor”?
sauce: John Deaton
Deaton, known for his efforts in legal battles between Ripple and the Securities and Exchange Commission, said he would be willing to “take on the work without pay.”
“The American people deserve to know the truth more than I or anyone else needs another paycheck from taxpayers.”
His offer followed a court order granting permission to cryptocurrency exchange Coinbase. obtain We obtained unredacted files from the Federal Deposit Insurance Corporation to investigate their role in the unidentified chokepoint operation. 2.0 system.
“They demonstrate a coordinated effort to thwart a wide range of cryptocurrency activity, from basic BTC transactions to more complex services,” said Paul Grewal, Coinbase's chief legal officer. said. explained After checking the submitted documents.
Martin Gruenberg, the alleged “architect” of Operation Chokepoint 2.0, resigned as FDIC chairman in November.
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The scheme refers to rumored and unconfirmed US government efforts to pressure banks to deny or limit services to crypto companies, leading to the collapse of Silvergate and Signature Bank in March 2023. After that, crypto exchanges like Binance may have lost their local banking partners.
Mr. Deaton's new initiative began after he lost his Massachusetts Senate seat to Democratic Sen. Elizabeth Warren in the Nov. 5 U.S. presidential election.
The landslide victory in Warren's favor came before two heated debates in the Senate, where Deaton challenged Warren to prioritize issues affecting the state's lower and middle classes. Instead, he called for the creation of an “anti-cryptocurrency army.”
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