
The issue of 'debanking' has gained significant attention, particularly in relation to the challenges faced by cryptocurrency-related entities. Critics argue that banks, including Silvergate Bank ($SI) and Signature Bank ($SBNY), have been unfairly labeled as victims of a debanking crisis, suggesting instead that they have catered to criminal organizations. The conversation has been fueled by various commentators, including Andrew Grossman, who emphasizes the need for reforms to address the problem. The FDIC's policies, particularly those stemming from Operation Choke Point, have been scrutinized, with some arguing that regulatory actions have exacerbated the situation. Coinbase's top lawyer has stated that Operation Choke Point 2.0 is not merely a conspiracy theory, but rather a tangible issue impacting the crypto sector. The discussion highlights the broader implications of regulatory practices on financial institutions and their clients, with calls for a reevaluation of the current regulatory framework to better support legitimate businesses while ensuring compliance and safety.

💬 One Big Thought: What is going on with debanking? @twifintech 12/6 https://t.co/ge6s9t1L9s
"FTX didn't kill us, our regulators did" - the story of Silvergate Bank and Operation Choke Point 2.0 https://t.co/jSZm9JL4f4
1/ Operation Choke Point 2.0 has entered the mainstream discussion and as the former CTO of Silvergate, I want to provide my personal view First, the Silvergate SEN network was a core piece of infrastructure in the cryptocurrency economy As someone who was there when it…