As a passionate crypto investor, I find myself eagerly advocating for transparency and fairness in our digital economy. In this capacity, I wholeheartedly support the call by former U.S. prosecutor, crypto supporter, and ardent XRP advocate John Deaton, who has generously offered his services to spearhead an investigation into Operation Chokepoint 2.0, should the incoming Trump administration be open to it. This unsubstantiated operation is rumored to have targeted crypto businesses with the aim of excluding them from the traditional banking network.
The American public is entitled to the truth far more than any of us, including myself, require another salary paid for by taxpayers.
In a blog post on the 4th of January, I highlighted my thoughts after Coinbase disclosed their acquisition of FDIC files related to Operation Chokepoint 2.0. This revelation prompted me to reach out to some influential figures expected to play significant roles in the upcoming Trump administration. These individuals include President Donald Trump, Vice President JD Vance, and others such as Elon Musk, Vivek Ramaswamy, Secretary of Commerce Howard Lutnick, and crypto Czar David Sacks. They are all instrumental in driving Trump’s AI and cryptocurrency initiatives.
He expressed that this isn’t merely about cryptocurrency, but rather it’s a struggle against the weakening of institutional honesty and the unbridled authority of unelected officials.
Deaton highlighted that Custodia Bank’s ongoing legal dispute and Operation Chokepoint 2.0 have significant ramifications stretching beyond the cryptocurrency industry. Essentially, these cases represent a larger struggle regarding whether the U.S. continues to be a nation upholding rule-of-law principles that protect free enterprise or if bureaucratic authority has the ability to capriciously dismantle businesses without cause.
He expressed concern that continuing these practices could establish a harmful pattern for what’s to come. Essentially, the issue is whether unelected officials have the authority to capriciously block access to vital financial systems, thereby favoring certain businesses over others within the marketplace. In other words, it’s about determining whether government agencies can exercise unrestricted power to limit legitimate businesses from using the essential financial infrastructure required to stay competitive and prosper in a free-market economy.
Although some may downplay the importance of Operation Chokepoint 2.0, Deaton views it as a pivotal matter. He contends that the legal struggles experienced by Caitlin Long’s Custodia Bank against the Federal Reserve are not only significant for the crypto industry but also for the principle of free-market capitalism – a fundamental element in America’s economic structure.
Despite the Ripple lawsuit being considered the most notable non-fraud enforcement action by the SEC in contemporary times, Deaton’s viewpoint on this matter remained steadfast. He believed that Custodia Bank’s case was of even greater importance, underscoring broader issues concerning institutional trustworthiness and economic liberty within the United States.
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2025-01-05 14:28