At Least 30 Crypto Founders Lost Banking Access During Operation Chokepoint 2.0, December 2025 Report Shows

According to a House Financial Services Committee report released in December 2025, at least 30 crypto and tech founders lost banking access during Operation Chokepoint 2.0 between 2022 and 2024. The FDIC issued pause letters to approximately 24 banks, requesting they halt crypto-related services without formal rulemaking.

Despite the Trump administration's policy reversals and August 2025 executive order directing regulators to review debanking practices, the OCC published preliminary findings in December 2025 naming nine of the largest U.S. banks as having imposed unjustified restrictions on lawful crypto businesses. Caitlin Long, CEO of Custodia Bank, stated in March 2025 it was premature to declare debanking was over.

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