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Biden's Operation Chokepoint 2.0 Debanking 30 Tech Founders, Claims Andreessen

Nov 27, 2024, 08:29 AM

Venture capitalist Marc Andreessen revealed on the Joe Rogan Experience podcast that the Biden administration has been debanking tech founders and companies through Operation Chokepoint 2.0, a practice he alleges is politically motivated. This operation has reportedly affected about 30 tech founders, including individuals from religious organizations and evangelical ministries. The debanking has occurred without legal process or right to appeal, and sometimes due to political opposition. Andreessen's comments highlight the broader implications of such actions, suggesting they could stifle innovation and freedom of expression. The issue has drawn attention from notable figures like Elon Musk, who has called for an end to the use of the banking system as a tool for state corruption and cronyism. Previous administrations, including the Trump administration, have attempted to address similar issues, and the practice was noted during the Libra/Diem days and affected banks like Silvergate and Signature.