Renowned attorney and crypto advocate John Deaton has publicly offered to lead a federal investigation into the alleged “ChokePoint 2.0,” a rumored initiative targeting cryptocurrency firms through restricted access to essential financial services.
In a statement, Deaton emphasized his readiness to serve without compensation, stating that “the American people deserve the truth far more than anyone needs another taxpayer-funded paycheck.”
Deaton, a former prosecutor and Special Assistant U.S. Attorney, has spent four years fighting regulatory overreach by the SEC pro bono, including his advocacy during the Ripple case. He believes the implications of ChokePoint 2.0 extend far beyond digital assets, calling it a broader assault on free market capitalism and the principles underpinning America’s economic system.
At the heart of his concerns is the alleged coordination among government agencies to deny access to financial infrastructure, effectively determining winners and losers in the marketplace. Deaton warned that such unchecked bureaucratic power threatens innovation, competition, and economic opportunity, setting a dangerous precedent for future industries.
He also highlighted the significance of Custodia Bank’s legal battle against the Federal Reserve, which he described as critical not only for crypto but for the concept of free market capitalism. According to Deaton, the case underscores whether America will uphold the rule of law to protect free enterprise or allow unelected officials to dismantle it through selective enforcement.
Deaton’s remarks call for a transparent investigation into the alleged multi-agency coordination. He urged leaders like Donald Trump, JD Vance, and Elon Musk to recognize the fight as more than a crypto issue, framing it as a battle against the erosion of institutional integrity and unchecked bureaucratic authority.
“The future of America’s economic leadership depends on ensuring fair access to financial infrastructure and upholding principles of transparency and competition,” Deaton concluded.
This news comes after Michael Saylor, MicroStrategy chairman and Bitcoin advocate, met Eric Trump at Mar-a-Lago, sparking speculation within the crypto community. Eric Trump described the meeting as “two friends, one passion: Bitcoin,” while Saylor added, “Bitcoin is on the menu at Mar-a-Lago.” The timing has led to theories that cryptocurrency policy could feature prominently in the incoming Trump administration, with some speculating the discussion might involve a U.S. Bitcoin strategic reserve—a concept Saylor has long championed.
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