PANews reported on January 12 that according to CryptoSlate, Travis Hill, interim chairman of the Federal Deposit Insurance Corporation (FDIC), recently admitted in a speech that the agency had "de-banked" cryptocurrency companies. Hill pointed out that some crypto-related businesses lost bank services without any explanation, which was "unacceptable" and incompatible with the FDIC's mission to reduce the number of unbanked Americans. Hill's remarks further clarified what critics call "Operation Stifle 2.0," an action allegedly taken by President Biden's administration to hinder the development of the U.S. crypto industry. He further urged regulators to end banking practices and stressed that the Federal Deposit Insurance Corporation must ensure that no staff member takes measures to pressure banks to abandon law-abiding customers.