📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

‘Coordinated Assault on Bitcoin,’ Says Ex-Coinbase CTO

Published 03/28/2023, 10:12 AM
Updated 03/28/2023, 10:30 AM
© Reuters.  ‘Coordinated Assault on Bitcoin,’ Says Ex-Coinbase CTO

  • Ex-Coinbase CTO Balaji Srinivasan recently spoke about Operation Choke Point 2.0 on Twitter.
  • Srinivasan stated that there is a coordinated assault on Bitcoin.
  • The statement comes a few days after his $1 million BTC price bet.

Balaji Srinivasan, the former CTO of Coinbase (NASDAQ:COIN), an angel investor, and a tech founder, recently took to his Twitter account to speak about Operation Choke Point 2.0. He shared a summary of Operation Choke Point 2.0 by Cooper & Kirk, a law firm that went against the FDIC, OCC, and the FED for the first operation.

Balaji stated that it is hard to deny the fact that there is a coordinated assault on Bitcoin. However, he stated that freedom will push back at the national and state level. He was recently all over the headlines for his $1 million bet on Bitcoin in 90 days. Balaji’s statement received backlash on the one hand, and was a hint of positivity and hope for the believers on the other.

According to Cooper & Kirk, a litigation boutique, there is evidence to suggest that the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (FRB), and the Office of the Comptroller of the Currency (OCC) are engaged in a covert financial campaign against the cryptocurrency industry.

Cooper & Kirk believe that the sudden collapse of cryptocurrency-friendly banks, the debanking of cryptocurrency businesses, and the tighter scrutiny of the cryptocurrency realm are not random events and is a coordinated attack against the crypto industry.

David H. Thompson, a Cooper & Kirk attorney states:

It looks like that time has come, and crypto is now the industry with a target on its back. Congress must once again hold the federal banking regulators to account and ensure that this Operation Choke Point 2.0 is exposed and brought to an immediate halt.

Moreover, Binance, the largest cryptocurrency exchange, has also come under the radar as it faces a lawsuit from the Commodity Futures Trading Commission (CFTC) for allegedly violating regulations. A recent spree of tightened scrutiny has raised the question of the rise of “Operation Choke Point 2.0.”

The post ‘Coordinated Assault on Bitcoin,’ Says Ex-Coinbase CTO appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.