DOJ “Debanking” Subpoenas Are Small Piece of Bigger Puzzle
The U.S. Attorney’s Office in Washington, led by former TV host Jeanine Pirro, issued subpoenas to JPMorgan Chase, Bank of America and other major banks demanding records on alleged "debanking" of customers, a term the Trump administration uses for politically or ideologically driven account closures. The move is framed as part of a broader effort to reshape the banking system, echoing the controversial Operation Choke Point 2.0 narrative that targets the crypto sector. Recent Trump‑era executive orders seek to eliminate reputation‑risk criteria from supervisory guidance and to promote digital‑asset innovation. Democrats, led by Sen. Elizabeth Warren, argue the subpoenas reflect overbroad compliance practices that harm vulnerable consumers and undermine regulator independence.
Fintech Recap: Shorting Tender, Crypto Market Structure & More
In this Fintech Recap episode, Jason Mikula and Alex Johnson dissect the latest fintech headlines, from the dark banking drama portrayed in HBO's "Industry" to Coinbase CEO Brian Armstrong's unexpected pullback on crypto market‑structure legislation. They evaluate the potential impact...
Fintech Recap: Kontig-Uh-Oh. Are Stablecoins Speed Running BaaS?
In this bonus Fintech Recap episode, Jason and Alex Johnson dissect the controversial rise of Kontigo, a Y Combinator- and Coinbase-backed startup accused of facilitating sanctions evasion. They clarify AML versus sanctions, detail Kontigo's retail service and the hidden role...