Custodia Bank's Caitlin Long: Operation Choke Point 2.0 Still Kicking Despite J.D. Vance's Claims

Crypto-Friendly Bank CEO Slams Vice President's Speech as Exaggerated

Hold onto your hats, folks! Caitlin Long, the fearless leader of Custodia Bank, isn't buying what Vice President J.D. Vance is selling. In a recent interview that set the crypto world ablaze, Long torched Vance's May 28 speech where he boldly declared that "Operation Choke Point 2.0" is six feet under. Long? She's calling BS on that one, saying it's nothing short of an exaggeration.

Long isn't mincing words here. She's pointing out that despite some progress under Trump, the Biden Administration's federal debanking tools are still lurking in the shadows, ready to pounce on the crypto industry. "It's not dead yet, unfortunately," Long declared in a fiery clip from Arch Public. "The tools they used to target our industry? Still in place."

Now, let's talk about Operation Chokepoint 2.0. This isn't just some fancy term; it's what traders and crypto bigwigs use to describe the Biden-era financial regulators' sneaky moves to cut banks off from the crypto world. It's like a financial hit squad, with the SEC, the Fed, FDIC, and OCC all playing their part, waving red flags about the risks of dealing in crypto. And let's not forget the SEC's not-so-subtle war against Binance, Coinbase, and Ripple, throwing out lawsuits left and right with rules so murky you'd need a scuba suit to navigate them.

But here's the kicker: Caitlin Long says these debanking tools are still alive and well in the current federal system. Sure, the Federal Reserve and the OCC have tried to play nice, pulling back some of their crypto risk warnings and even giving banks the green light to buy and sell crypto assets. But don't be fooled—there are still some nasty non-public "de-banking tools" hanging around, like informal supervision, exam pressure, and those dreaded FDIC pause letters that put the brakes on banks serving crypto.

Long's not backing down until these tools are officially kicked to the curb or completely dismantled. And get this—she's also claiming that some of the masterminds behind Operation Chokepoint 2.0 are still lurking in the federal banking world. Talk about a crypto conspiracy!

Remember back in April when pro-crypto Senator Cynthia Lummis called out the Fed for pulling their restrictive guidance on banks holding crypto assets? She wasn't buying it either, calling it all "lip service" because the Fed's still blocking crypto-friendly banks from getting those coveted master accounts.

And let's not forget 2022, when Caitlin Long and Custodia Bank took the Fed to court, accusing them of dragging their feet on their master account application for a whopping 19 months without so much as a peep.

So, buckle up, crypto fans. The battle against Operation Choke Point 2.0 is far from over, and Caitlin Long is leading the charge with a vengeance.