Is the FDIC Whistleblower Account Real?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 9 January 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Some disturbing allegations about the FDIC coverup about its role in Operation Chokepoint 2.0 are gripping cryptotwitter. But how much credibility is there behind the claims? Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.5	What's going on, guys? It is Wednesday, January 8th, and today we are talking about some
0:23.4	crazy rumors of malfeasance coming out of the FDIC. Before we get into that, however, if you are
0:28.6	enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to
0:32.8	dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in
0:36.6	the show notes or go to bit.ly slash breakdown pod. All right, friends, we are staying in policy realm today. We have a couple
0:43.2	stories. Coinbase granted approval to appeal in their legal battle against the SEC. The CFTC chair
0:48.7	announcing his resignation. But where we're going to start is with something that I should be very
0:53.3	clear is fully in the
0:54.5	realm of rumors so far, but it's still pretty fascinating and related to stories that we've
0:59.0	been covering quite a bit here. One note, we are going to be saying FOIA Freedom of Information
1:04.5	Act quite a bit. I'll probably use the FOIA pronunciation. So if I mentioned FOIA, I'm talking
1:09.4	about the Freedom of Information Act.
1:14.2	So, back to these rumors of malfeasance coming out of the SEC.
1:18.6	Of course, the banking regulator has faced a significant amount of scrutiny over their conduct surrounding Operation Chokepoint 2.0 in recent months.
1:21.6	Earlier in the week, we covered newly unredacted documents obtained by Coinbase under
1:25.0	Freedom of Information laws.
1:26.7	Generally, they showed that the FDIC
1:28.1	had put the brakes on a huge rage of innovative crypto products in the banking industry.
1:31.9	They also put their thumb on the scale in a big way to make sure banks couldn't offer
1:35.4	Bitcoin accounts to their customers. The agency's conduct around those Freedom of Information
	...

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