Paul Grewal, Coinbase Chief Legal Officer (CLO) is one of the testifiers at the forthcoming Operation Chokepoint 2.0 hearing with the Senate Banking Committee. Billed to take place later this week, Grewal will join other experts includes MARA Holdings CEO Fred Thiel in testifying against the crackdown on the crypto industry.
Operation Chokepoint 2.0 Hearing Witness List
It is worth noting that the hearing regarding the Operation Chokepoint 2.0 claims will be conducted by both the House and Senate respectively. As shared in an X post, the Coinbase CLO features in the witness list for both hearing set for February 6.
Besides Grewal, WSPN CEO Austin Campbell, Fred Thiel will participate in the House Financial Services Committee hearing. Per the update from, the lawmakers noted that more witnesses may still be added to the list.
For the Senate Banking GOP hearing, Nathan McCauley, the founder and CEO of Anchorage Digital will also take part in the hearing. In addition, Stephen Gannon from Davis Wright Tremaine LLP, Mike Ring from Old Glory Bank and Aarond Klein from the Brookings Institution will also take part.
As the Coinbase CLO noted, the lawmakers’ hearing will conduct an “oversight hearing looking into the past clandestine and undemocratic campaign to cut off crypto from banking.”
Coinbase CLO and Industry Leaders Have a Lot to Say
Just like Anchorage Digital, Coinbase also suffered from the impacts of the Operation Chokepoint 2.0. Over the past few weeks, the exchange has uncovered Letters from the US FDIC that shows the role played by the Federal Deposit Insurance Commission (FDIC) in the chokepoint agenda.
Per the content of the unredacted documents, the FDIC instructed banks to cut financial services for the crypto industry. With Paul Grewal running the legal team that got these unredacted files from FDIC in a legal battle, he might shed many insight in the hearing.
Anchorage Digital also potentially faced the Operation Chokepoint as a broad-based financial services provider in the industry. With claims of crackdown in the Bitcoin mining sector, Fred Thiel may also be an invaluable witness in the hearing.
Operation Chokepoint 2.0: Promises Kept
Prior to his election victory, President Donald Trump promised that the war on crypto will be over under his tenure. The appointed Crypto and AI Czar Davids Sacks promised to probe Chokepoint claims from industry leaders.
Also, Rep French Hill also made similar promises in December with confirmation that Reps will investigate the claims in January. Crypto proponents have celebrated the move by the current administration to check regulatory agencies’ excesses.
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