Yigit Taha OZTURK 
Former U.S. prosecutor and crypto advocate John Deaton has offered the Trump administration to lead an investigation into Operation Chokepoint 2.0, an alleged initiative aimed at excluding crypto companies from the traditional banking system.
In a Jan. 4 X post, Deaton warned, “If such actions go unchallenged, it creates a dangerous precedent where regulatory bodies can silently suppress industries they disfavor, stifling innovation, competition, and economic opportunity.” His post was directed at U.S. President Donald Trump, Vice President JD Vance, and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.
Deaton added, “This isn’t just a fight for crypto; it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats.” He also addressed the post to Secretary of Commerce Howard Lutnik and Trump’s AI and crypto lead David Sacks.
Deaton’s Ripple Experience and Salary-Free Offer
Deaton, known for his efforts in Ripple‘s legal battle against the SEC, said he would take on the role “without salary.”
“The American people deserve the truth far more than I or anyone else needs another taxpayer-funded paycheck,” he declared.
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His offer comes after a court allowed crypto exchange Coinbase to access unredacted files from the Federal Deposit Insurance Corporation (FDIC) as part of its investigation into the alleged Operation Chokepoint 2.0. Paul Grewal, Coinbase’s chief legal officer, stated that the documents revealed a coordinated effort to halt various crypto activities, ranging from basic BTC transactions to more complex services.
Operation’s Architect Resigns
The alleged architect of Operation Chokepoint 2.0, Martin Gruenberg, resigned as FDIC Chair in November.
The operation refers to an unconfirmed U.S. government effort to pressure banks into denying or limiting services to crypto firms. This rumored initiative may have contributed to crypto exchanges like Binance struggling to secure local banking partners following the collapse of Silvergate and Signature Bank in March 2023.
Deaton’s new proposal follows his loss to Democrat Elizabeth Warren in the Massachusetts Senate race on Nov. 5. Warren’s landslide victory came after two heated debates where Deaton criticized her for building an “anti-crypto army” instead of focusing on issues affecting the state’s lower and middle classes.
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