Coin Edition -
- A Web3 leader said there is a draconian operation to de-bank crypto.
- Some people think it is an overblown FUD.
- Coinbase (NASDAQ:COIN) CEO stands against the SEC’s supposed intention to ban crypto staking.
The crypto community speculates that the US apex bank and the Office of the Comptroller of Currency (OCC) are trying to clamp down on the crypto industry. A Web3 leader with the username Ap_Abacus on Twitter described it as a draconian operation to de-bank crypto.
Ap_Abacus claimed that the Federal Reserve bank and OCC were going after an investment banking firm with crypto ties, Morgan Stanley (NYSE:MS), and Paxo Global, a stablecoin issuer.
UPDATE: The Fed and OCC are in the midst of a massive crypto de-banking operation.SOURCE: “what is going on is draconian and aimed to kill crypto”
**Fed and OCC are going after @MorganStanley @custodiabank and even states that are crypto friendly like Wyoming.
— Andrew (@AP_Abacus) February 8, 2023
Additionally, the Web3 leader quoted a source stating that venture capitalists were becoming increasingly concerned that their crypto portfolio companies were being de-banked en masse.
Reacting to Ap_Abacus’s tweet, a crypto enthusia…
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