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- US banks are still closing crypto firm accounts despite political support.
- Vitalik Buterin regains billionaire status as ETH tops $4,300.
- White House Crypto Council leadership sees a major change.
Today’s top crypto developments span policy battles, billionaire milestones, and leadership changes — all of which could shape the industry’s direction in the coming months.
US Banks Continue Closing Crypto Accounts Under ‘Operation Chokepoint’
Despite expectations that US banks would relax their stance toward digital assets after Donald Trump’s pro-crypto administration took office, the practice of closing crypto-related accounts persists. Unicoin CEO Alex Konanykhin revealed that his company and subsidiaries have been “de-banked” by major institutions, including Citibank, Chase, Wells Fargo, City National Bank of Florida, and TD Bank — without explanation.
Industry figures, such as Andreessen Horowitz partner Alex Rampell, warn of “Operation Chokepoint 3.0,” where banks squeeze fintech and crypto platforms by hiking fees for data access and transfers. This continued debanking underscores a regulatory and operational challenge for crypto firms in the US.
Vitalik Buterin Reclaims Onchain Billionaire Status
Ethereum co-founder Vitalik Buterin is once again an onchain billionaire, following Ether’s surge past $4,000 for the first time in eight months. Blockchain intelligence firm Arkham reported Buterin’s portfolio now sits at around $1.04 billion, holding 240,042 ETH alongside smaller altcoin positions.
Over the weekend, Ether jumped another 6.38% to reach $4,332, while Bitcoin’s market dominance slipped — signaling shifting momentum in the broader market. At press time, ETH trades at $4,244.
Also Read: XRP MACD Crossover Sparks Breakout Hopes — Could This Be the Run to Double Digits?
White House Crypto Council Director Steps Down
Bo Hines, executive director of the White House Crypto Council, announced his resignation, marking a leadership change at one of the US administration’s key advisory bodies for digital assets. Hines cited a return to the private sector but pledged to continue advocating for crypto adoption.
During his tenure, Hines worked closely with AI & Crypto Czar David Sacks to position the US as a global leader in digital assets — though critics argue the council fell short on Bitcoin-specific legislative reforms.
The intersection of banking restrictions, Ethereum’s bullish momentum, and shifts in US crypto policy leadership paints a complex picture for the industry. While market gains fuel optimism, structural challenges in banking access and regulation remain front and center for the months ahead.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
