Daily Crypto Recap — Key Highlights
Ongoing Crypto Debanking: “Operation Chokepoint 3.0”
Major U.S. banks are reportedly imposing steep fees and access limitations on fintech and crypto platforms—hindering data sharing and fund transfers. Andreessen Horowitz partner Alex Rampell labeled this emerging strategy “Operation Chokepoint 3.0,” intended to throttle competition rather than generate new revenue.
For instance, JPMorgan has been accused of charging fintech firms exorbitant fees to access customer routing or account information, effectively discouraging use of crypto exchanges and alternative platforms like Coinbase or Robinhood.
Meanwhile, crypto firms such as Unicoin continue to report account closures with no explanation—even after President Trump issued an executive order targeting discriminatory debanking practices.
What’s next? Regulators are now tasked with probing these practices—reviewing complaints and potentially penalizing banks. But whether this will curb the banks’ resistance remains to be seen.
Vitalik Buterin Reclaims Billionaire Status as ETH Surges
Ethereum co-founder Vitalik Buterin became an on-chain billionaire again, with his publicly tracked holdings topping around $1.04 billion after Ether vaulted past $4,300. According to Arkham’s data, his wallets contain approximately 240,042 ETH, alongside smaller positions in tokens like AETHWETH, WhiteRock, Moo Deng, and WETH.
This resurgence mirrors his prior crypto-millionaire milestones in May 2021 (when ETH crossed $3,000). Analysts attribute the recent rally to three key tailwinds, including institutional inflows, Ethereum’s Proof-of-Stake adoption, and improving market sentiment.
Bo Hines Resigns as Head of White House Crypto Council
Bo Hines, the executive director of President Trump’s Council of Advisers on Digital Assets since December 2024, has announced his resignation to return to the private sector.
Under Hines’ leadership, several key initiatives were advanced:
- The Genius Act, a law establishing a regulatory framework for stablecoins.
- A comprehensive Digital Assets Report outlining proposed oversight plans.
- The proposal of a national Bitcoin reserve, aimed at expanding the U.S.’s strategic influence in crypto policy.
Hines will retain a special advisory role focused on AI under David Sacks. His deputy, Patrick Witt—a former Pentagon tech official—is expected to succeed him as head of the Crypto Council.
