Attorney John Deaton proposes that the new US government investigate Operation Chokepoint 2.0

Former U.S. prosecutor and cryptocurrency advocate John Deaton has proposed that the incoming Trump administration lead an investigation into Operation Chokepoint 2.0, an unconfirmed plan that allegedly seeks to cut cryptocurrency companies out of the traditional banking system. “If these actions go unchallenged, they create a dangerous precedent where regulators can quietly suppress entire industries they don’t like, stifling innovation, competition, and economic opportunity,” Deaton said in a Jan. 4 X post addressed to incoming U.S. President Donald Trump, Vice President JD Vance, as well as Government Efficiency leaders Elon Musk and Vivek Ramaswamy, Commerce Secretary Howard Lutnik, and AI and cryptocurrency “czar” David Sacks. “This is not just a fight for the cryptocurrency industry, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” he added. Martin Gruenberg, the alleged “designer” of Operation Chokepoint 2.0, resigned as FDIC chairman last November.