In a shocking turn of events, it has been reported that over 30 tech and crypto founders in the United States have been “secretly debanked” as part of Operation Chokepoint 2.0. This controversial operation, which was originally launched in 2013, aims to crack down on fraudulent and illegal activities by targeting high-risk industries such as firearms, payday loans, and now, cryptocurrency.

The news of these debankings has sent shockwaves through the tech and crypto communities, with many expressing concerns over the potential abuse of power and discrimination against legitimate businesses. The affected founders have been left without access to their bank accounts, credit cards, and other financial services, leaving them in a state of financial limbo.

One of the main issues with Operation Chokepoint 2.0 is the lack of transparency and due process. The affected individuals were not given any warning or explanation for the sudden closure of their accounts, and many were not even aware that they were considered high-risk by their banks. This has raised questions about the legality and fairness of the operation, as well as the potential for discrimination against certain industries.

The crypto industry, in particular, has been a target of Operation Chokepoint 2.0, with many banks and financial institutions viewing it as a high-risk and volatile sector. However, this blanket approach fails to recognize the legitimate and innovative businesses within the crypto space that are driving the industry forward.

The debanking of these tech and crypto founders highlights the need for clearer regulations and guidelines for the industry. Without proper regulations in place, legitimate businesses and individuals are at risk of being unfairly targeted and punished.

As the debate around Operation Chokepoint 2.0 continues, it is crucial for regulators and financial institutions to work together to find a balance between protecting against fraud and supporting legitimate businesses. The future of the tech and crypto industries, and the individuals behind them, depends on it.