According to Deep Tide TechFlow, on December 1, Ripple's CTO David Schwartz stated on the Joe Rogan podcast that the 'de-banking' of tech companies has led Silicon Valley to turn towards Trump. He openly opposed 'Operation Chokepoint 2.0' (a government-led crackdown on the cryptocurrency industry) and pointed out that the government's reliance on indirect regulatory methods has reached an 'addictive' level. He emphasized that this practice of pressuring specific businesses through banks severely undermines procedural justice and fundamental rights.
Coinbase CEO Brian Armstrong is collecting relevant records through the Freedom of Information Act (FOIA), while Castle Island Ventures partner Nic Carter revealed that the Biden administration attempted to undermine the cryptocurrency industry by targeting Silvergate Bank. Industry insiders generally expect that the incoming new government may reverse the current hostile regulatory stance towards the crypto sector.