ConsenSys revealed that it has been subjected to financial pressure related to "Operation Chokepoint 2.0" twice

ChainCatcher news, according to CoinDesk, Ethereum software developer ConsenSys founder and CEO Joseph Lubin recently revealed that the company faced financial pressure related to "Operation Chokepoint 2.0" (a government-led crackdown on the cryptocurrency industry) twice during the Biden administration. Sources disclosed that during this incident, Wells Fargo attempted to resist pressure from regulators such as the Federal Deposit Insurance Corporation (FDIC) to maintain account services for the $7 billion-valued company.

Lubin stated that the bank had clearly indicated at the time: "We like you, we don't want to do this, we will delay this process as much as possible." However, ConsenSys was ultimately forced to close its accounts. After Trump won the election last November, the bank's relationship manager immediately reached out to ConsenSys's CFO to seek to restore the business relationship.