Is Operation Chokepoint 3.0 here? Here’s everything you need to know…

Key Points

1. Alex Rampell of Andreessen Horowitz alleges that U.S. banks are quietly rolling out 'Chokepoint 3.0' to hinder crypto adoption by imposing high fees and blocking fintech apps.

2. Banks like JPMorgan are accused of charging exorbitant fees to deter customers from using platforms like Coinbase and Robinhood, aiming to kill competition rather than generate revenue.

3. Coinbase and Robinhood are expanding their services, with Coinbase considering tokenized stocks and derivatives in the U.S. and Robinhood launching tokenized stocks and ETFs in Europe.

4. Despite banks' efforts to slow crypto momentum, the industry continues to evolve, supported by regulatory tailwinds and innovations like JPMorgan's direct bank-to-wallet link with Coinbase.