Chokepoint 3.0? a16z Says Big Banks Are Quietly Strangling Crypto and Fintech Rivals

Alex Rampell of a16z warns that major U.S. banks are engaging in “Operation Chokepoint 3.0.” He alleged a unilateral blocking of access to fintech and crypto platforms through high fees, data restrictions, and app blocking. He argues this new wave of anti-competitive behavior isn’t about profit, but about stifling competition. Andreessen Horowitz (a16z) partner Alex Rampell is sounding the alarm on what he’s calling “Operation Chokepoint 3.0” for the crypto industry. This is a new wave of anti-competition tactics allegedly being deployed by major U.S. banks to suppress the rise of fintech and crypto platforms. According to Rampell, while government-led pressure to de-bank crypto firms has eased under the new administration, traditional financial institutions are now taking matters into their own hands. From Government Pressure to Private Sabotage The original “ Operation Choke Point 2.0 ” under the Biden administration saw increased regulatory scrutiny that made it harder for crypto companies to get banking services. It made it harder for them to access banking services. Meanwhile, that era is over with the new administration under Donald Trum… The post Chokepoint 3.0? a16z Says Big Banks Are Quietly Strangling Crypto and Fintech Rivals appeared first on Coin Edition .

Source: Coin Edition