Operation Chokepoint 2.0 has been criticized by many industry leaders, and XRP holder attorney John Deaton has requested an investigation.
John Deaton, a pro-crypto lawyer, recently expressed his strong opinion on Operation Chokepoint 2.0, which is causing a surge in discussions on crypto X. Deaton requested an investigation into the defined endeavor to debank the crypto ecosystem in response to a post from Jesse Powell, the founder, and CEO of Kraken Exchange.
Operation Chokepoint 2.0 – Probe Time
Jesse Powell disclosed how he and Kraken fought to debank US financial institutions. He observed that the trading platform’s survival was only marginally improved by prioritizing its European outlets.
John Deaton observed that Brad Garlinghouse, CEO of Ripple, and Caitlin Long, CEO of Custodia Bank, had encountered comparable circumstances. He subsequently tagged the X accounts of President-elect Donald Trump, VP-elect JD Vance, Elon Musk, and Scott Bessent to investigate Operation Chokepoint 2.0.
John Deaton recommended that the incoming administration appoint an independent counsel to conduct the investigation. He even recommended Nic Carter as a viable candidate for the investigative team.
Notably, the term Operation Chokepoint 2.0 was initially coined by Nic Carter. He continued to be recognized as the first to identify the anomaly in the targeted initiative to debank crypto firms. In the interim, numerous individuals, such as Coinbase CEO Brian Armstrong and John Deaton, have identified Sen. Elizabeth Warren as the driving force behind this initiative.
Although there is no tangible evidence to support this assertion, Coinbase CEO, as Deaton noted, thinks that the Democratic Party’s election loss was precipitated by Elizabeth Warren’s “war on crypto.”
Is Donald Trump poised to revolutionize the game?
As US President-elect Donald Trump has demonstrated his willingness to establish a regulatory environment conducive to the crypto industry, an investigation into Operation Chokepoint 2.0 may occur in the future.
The appointment of a pro-crypto individual to lead the US SEC is a likely component of Trump’s initiative to establish a conducive regulatory environment. Even though numerous candidates are vying for the position of US SEC Chairman, John Deaton is confident that the subsequent leader will intensify the investigation on a global scale.
Gary Gensler has already submitted his resignation notice as Chairman. The SEC is under increasing pressure from industry giants to investigate its excesses, as Brad Bondi, Paul Atkins, and Brian Brooks are now in the lead for the position.
