Crypto and Trump gang up on FDIC over debanking: 'Our story is pretty ridiculous'
Publishing timestamp: 2025-02-15 08:00:02
Summary
Crypto industry leaders testify on Capitol Hill about struggles with debanking during Biden administration, with some alleging coordinated effort by regulators to pressure banks into cutting ties with crypto firms. Trump administration is seen as more supportive of crypto industry, with executive orders promising fair access to financial services. House committee is investigating claims of discriminatory banking policies towards crypto firms. Meanwhile, Trump and Musk are involved in crypto-related projects, signaling a potential shift in the industry.
Sentiment: MIXED
Tickers: JPM, BAC, BTC.CM=, META, MARA, COIN,
Keywords: technology, bank of america corp, bitcoin/usd coin metrics, meta platforms inc, cryptocurrency, marathon digital holdings inc, elon musk, energy, jpmorgan chase & co, coinbase global inc, bitcoin, gary gensler, donald j. trump, fintech, business news,
Source: https://www.cnbc.com/2025/02/15/crypto-trump-gop-leadershipo-gang-up-on-fdic-over-debanking-.html