Former United States prosecutor, crypto advocate, and pro-XRP lawyer John Deaton has offered the incoming Trump administration to lead a probe into Operation Chokepoint 2.0 for free. Operation Chokepoint 2.0 is an unconfirmed initiative that allegedly attempted to cut crypto companies from the traditional banking system.
“The American people deserve the truth a hell of a lot more than I or anyone else needs another taxpayer funded paycheck. “
In a January 4 post on X, following the Coinbase revelation of obtaining the FDIC files of Operation Chokepoint 2.0, Deaton addressed several key members of the anticipated Trump administration, including President Donald Trump, Vice President JD Vance, and leaders such as Elon Musk, Vivek Ramaswamy, Secretary of Commerce Howard Lutnick, and crypto Czar David Sacks, who will oversee Trump’s AI and crypto initiatives.
He said, “This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats.”
Deaton emphasized that the implications of Custodia Bank’s legal battle and Operation Chokepoint 2.0 extend far beyond the cryptocurrency sector. According to him, the cases symbolize a broader conflict over whether the U.S. remains a country where the rule of law safeguards free enterprise or where bureaucratic power can arbitrarily dismantle businesses.
He warned that allowing such practices to persist would set a dangerous precedent for the future. “It’s about whether unelected bureaucrats can arbitrarily deny access to essential financial infrastructure, effectively picking winners and losers in the marketplace,” Deaton said. “It’s about whether government agencies can wield unchecked power to restrict lawful businesses from accessing the critical financial infrastructure necessary to survive and thrive in a free-market economy.”
While some, including those within the crypto industry, may underestimate the significance of Operation Chokepoint 2.0, Deaton sees it as a defining issue. He argued that the legal challenges faced by Caitlin Long’s Custodia Bank against the Federal Reserve are among the most critical cases, not only for the crypto industry but for the concept of free-market capitalism itself—the cornerstone of America’s economic system.
Deaton’s perspective on this issue persisted even during the Ripple lawsuit, which he described as the most significant non-fraud SEC enforcement action in modern history. He maintained that Custodia Bank’s case represented an even more critical battle, highlighting the broader implications for institutional integrity and economic freedom in the United States.
