William Freeman 2nd Vice Chair | DeKalb County Republican Party
William Freeman 2nd Vice Chair | DeKalb County Republican Party
Marc Andreessen, a prominent Silicon Valley investor, recently discussed on the Joe Rogan podcast how the U.S. government allegedly collaborates with large financial institutions to "de-bank" individuals they perceive as threats. This includes those involved in startups or cryptocurrency investments.
Andreessen suggested that this practice does not seem to affect individuals on the political left and implied that Senator Elizabeth Warren may be involved. According to NFT Gators, Andreessen claimed during the podcast that over 30 crypto startups were debanked under the Biden administration.
In the lead-up to the November U.S. election, several crypto companies had expressed support for President-elect Donald Trump. The Securities and Exchange Commission's actions against crypto were seen as a key reason for this stance. Andreessen noted that such practices have roots going back 15 years to the Obama administration when unconventional startups like marijuana businesses faced similar issues.
The practice reportedly gained traction during "Operation Choke Point" in 2013, which scrutinized banks dealing with high-risk industries such as firearm dealers and payday lenders despite their legal operations. Andreessen asserted that this approach has been extended in recent years to include tech founders, particularly those in crypto.
Austen Allred commented on Twitter about the podcast episode, describing it as revealing significant abuses of power by federal agencies.
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