According to Deep Tide TechFlow, on November 29, The Block reported that several crypto industry executives shared their similar experiences after a16z co-founder Marc Andreessen mentioned on Joe Rogan's podcast that 30 founders had encountered 'debanking' in the past four years. These actions are referred to as 'Operation Choke Point 2.0', which refers to the government pressuring banks to sever the connection between crypto companies and financial services.
Marc Andreessen pointed out that the U.S. Securities and Exchange Commission (SEC) has frequently issued Wells notices to crypto companies during the current administration, including Uniswap Labs, Robinhood Crypto, and OpenSea, making it difficult for these companies to maintain banking services or operate normally. Tornado Cash co-founder Roman Storm revealed that he has been 'debanked' multiple times over the past two and a half years, and Custodia Bank CEO Caitlin Long also stated that her company has faced similar situations multiple times and has sued the Federal Reserve over it.
Trump promised during his campaign to end 'Operation Choke Point 2.0' and establish a more friendly regulatory framework for the crypto industry. Gemini co-founder Tyler Winklevoss believes that the actual number of affected individuals far exceeds 30, and Kraken co-founder Jesse Powell and Coinbase CEO Brian Armstrong have also confirmed the prevalence of this phenomenon.