The crypto industry has faced challenges under the Biden administration, with Flagstar Bank refusing to assume the bank account of a company and closing unrelated accounts. This is part of Chokepoint 2.0, the Biden administration's crackdown on crypto. Other founders have faced actions from the SEC unless they shut down their projects. In response, the crypto industry PAC Fairshake raised over $200 million to support pro-crypto legislators. The previous Trump administration recognized the potential of the crypto sector and appointed a Crypto Czar. Ripple CEO Brad Garlinghouse cited the SEC's approach to crypto as the reason for creating the Fairshake super-PAC. The Trump administration is expected to announce a strategic Bitcoin reserve and propose eliminating capital gains taxes on US-based projects. It also aims to encourage decentralized offerings and position the US as a leader in blockchain and crypto. The industry hopes for regulatory plans that allow entrepreneurs to focus on building without government interference.



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