The idea of a government conspiracy called "Operation Chokepoint 2.0" being responsible for de-banking crypto customers has been called into question by further research. While some crypto influencers blamed the government for banks cutting services to crypto-related businesses, a recent study by Yale researcher Steven Kelly and Federal Reserve historian Jonathan Rose found that the failure of Silicon Valley Bank (SVB) was due to venture capital and crypto customers, not government intervention. The researchers noted that SVB could have avoided bankruptcy by diversifying its customer base away from risky industries like VC and crypto earlier. The study undermines the claims of Operation Chokepoint 2.0 being the cause of SVB's collapse.



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