Crypto’s Battle Against Debanking | BlackRock On Bitcoin In Porfolios

Nic Carter, general partner at Castle Island Ventures and an outspoken commentator on debanking, dubbed the phenomenon “Operation Chokepoint 2.0,” a supposed echo of an Obama-era effort to isolate controversial industries. Skeptics argue banks are simply avoiding crypto’s regulatory risks, but industry insiders believe regulators are quietly forcing their hand. The debate has reached Capitol Hill, where Republicans promise investigations.

This collaboration comes as Binance works to rebuild its regulatory image following the wind-down of its own stablecoin, BUSD, under scrutiny from U.S. regulators and a $4.3 billion settlement with the U.S. government. Circle’s long-standing alliance with Coinbase makes its partnership with Binance—Coinbase’s direct competitor and Circle’s former rival in stablecoins—unexpected, but businesses thrive on pragmatism, not sentimentality. For Circle, tapping into Binance’s 240 million users is essential to challenge Tether’s dominance.

But Avalanche says the raise isn’t about the cash. With $3 billion in AVAX tokens already in its treasury, cofounder Emin Gün Sirer says the focus is on aligning with partners who can propel ecosystem growth.