According to @nic__carter, while various members of Congress and the current administration have acknowledged the occurrence of politically-motivated debanking, no official has directly stated that Silvergate Bank (SI) and Signature Bank (SBNY) were deliberately targeted and shut down by the government. Carter explicitly agrees with this interpretation. For traders, this underscores the ongoing regulatory and political risks facing crypto-friendly banks, which can impact the liquidity and accessibility of crypto markets (source: @nic__carter).

According to @nic__carter, Senator Cynthia Lummis has called for increased investigatory powers into the Federal Reserve, citing the recent failures of Signature and Silvergate banks as a result of regulatory actions termed 'Chokepoint 2.0.' These government-driven closures have raised concerns about banking access for crypto firms and could impact liquidity and institutional participation in the cryptocurrency market. Traders should monitor regulatory developments closely, as changes in bank supervision could directly affect crypto exchange operations and stablecoin on-ramps. Source: @nic__carter

According to @EleanorTerrett, Rep. Al Green stated that Operation Chokepoint 2.0 is a fictitious program and clarified that the Biden administration has not barred banks from engaging with cryptocurrency. Green highlighted crypto-friendly banks like Signature, which suggests continued support for crypto banking relations.