Chokepoint 2.0: An Investigation Promises the Truth About Crypto's Biggest Conspiracy

Quick Summary:

Did bureaucrats in the US plot to cut the crypto industry out of the banking system? An investigation begins.

At the hearing held by the House Committee on Financial Services on February 6, the discussion returned repeatedly to 700 pages of documents released by the FDIC, partly in response to a request filed under the Freedom of Information Act by crypto exchange Coinbase.

Large US banks have been reluctant to do business with crypto firms for many years; in 2017, the JP Morgan CEO Jamie Dimon described bitcoin as “fraud.” But during the Joe Biden administration, members of the industry—with crypto venture capitalist Nic Carter leading the chorus—began to cry conspiracy.

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Article Details

Author / Journalist: Joel Khalili

Category: TechnologyEconomy

Markets: United StatesCayman IslandsMexico

Topics: Business / Blockchain and Cryptocurrency Business

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-18 @ 10:33:10 (3 days ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 2323 words

Reading Time: 13 minutes read

Sentences: 86 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Wired

News ID: 26250363

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About Wired

Main Topics: TechnologyEconomy

Official Website: wired.com

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Year Established: 1993

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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