'First crypto president' Trump claims credit for ending Operation Choke Point 2.0 originally appeared on TheStreet .
President Donald Trump claimed credit for ending Operation Choke Point 2.0 while speaking to the Coinbase State of Crypto Summit on June 12.
Trump said he ended the Biden administration's war on crypto, and his administration unleashed American innovators to do what they do best — lead the world into new frontiers.
Operation Choke Point 2.0 is a popular term within the crypto industry that refers to what the industry leaders call a covert effort by U.S. regulators such as the Securities and Exchange Commission (SEC) to insulate crypto companies from the traditional banking system.
The term draws upon the original Operation Choke Point, a 2013 Department of Justice initiative during the Obama presidency that pressured banks to stop servicing "high-risk" but legal industries like gun dealers and payday lenders.
The president continued:
Many have called me the first crypto president, that's an honor. I really do consider that a very big honor, actually.
Trump also reminded his audience that he created the first presidential working group on digital assets and appointed "pro-freedom, pro-innovation" Paul Atkins as the SEC chair.
It was under the term of Gary Gensler as the SEC chair that the agency adopted an aggressive campaign against the crypto industry for alleged securities violations.
Trump also highlighted other achievements of his administration, such as the orders to create a strategic Bitcoin reserve and the digital assets stockpile, the progress on the GENIUS ACT that deals with stablecoin regulation, and the support for USD-pegged stablecoins .
The president claimed that his administration will work toward creating clear and simple market frameworks so that the U.S. dominates the future of crypto and Bitcoin .
Notably, the Trump family itself is involved with several crypto projects, such as meme coins , the USD1 stablecoin , World Liberty Financial , Bitcoin mining , and crypto exchange-traded funds (ETFs).
'First crypto president' Trump claims credit for ending Operation Choke Point 2.0 first appeared on TheStreet on Jun 12, 2025
This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared.
