A whistleblower group claims that the FDIC has long pressured banks to end services for crypto firms, suppressing growth and manipulating media narratives against the industry. The concerns about corruption and misuse of authority within the FDIC were detailed in recent revelations involving private communications.
Senator Lummis, along with Senator Tim Scott, is committed to investigating the severe allegations against the FDIC. They aim to clarify the reported misconduct and restore confidence in the financial regulator’s operations regarding cryptocurrency.