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David Sacks Joins Call to Investigate Operation Choke Point 2.0

David Sacks Joins Call to Investigate Operation Choke Point 2.0


Coin Edition
2024-12-07 14:00:00
David Sacks Joins Call to Investigate Operation Choke Point 2.0

David Sacks calls for a closer examination of Operation Choke Point 2.0. Chris Lane, former CTO of Silvergate, revealed how regulators abruptly dismantled the bank’s crypto-focused business model. Lane described the shutdown as a “bait and switch,” citing Silvergate’s solvency before regulatory intervention. David Sacks, the newly appointed White House Crypto Czar, has joined calls to investigate Operation Choke Point 2.0, highlighting its potential harm to the crypto industry. Sacks voiced his concerns in a tweet on X (formerly Twitter), responding to Chris Lane, son of former Silvergate CEO Alan Lane. “There are too many stories of people being hurt by Operation Choke Point 2.0. It needs to be looked at,” Sacks wrote. There are too many stories of people being hurt by Operation Choke Point 2.0. It needs to be looked at. https://t.co/IhCdyQfx0g — David Sacks (@DavidSacks) December 7, 2024 Silvergate’s Collapse Sparks Broader Concerns Chris Lane’s post provided a firsthand account of Silvergate Bank’s shutdown. He described how regulatory actions in early 2023 dismantled the bank’s operations, which had been centered around serving digital… The post David Sacks Joins Call to Investigate Operation Choke Point 2.0 appeared first on Coin Edition .

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