REPORT: Biden administration pressured banks to ‘debank’ Trump

I can still remember Donald Trump Jr. talking about being debanked, and the media laughing at him over it.

Then a report came out from the GOP on the issue, but again, it was laughed off and treated like a conspiracy theory.

Well, another report has surfaced, showing that the Biden administration was pressuring major banks not to do business with the Trump family.

The Report

In February 2025, Rep. French Hill (R-AR) published a report via the Financial Services Committee regarding the debanking of crypto assets.

In part, the report stated, "The Biden Administration’s Operation Choke Point 2.0 was carried out by the prudential regulators to target and debank the digital asset ecosystem.

"The FDIC used offline conversations and threats of formal supervisory actions to pressure banks to deny service to digital asset firms, their employees, and even their customers.

"This is a serious abuse of regulatory power. Unfortunately, you would be wrong to assume that this is the first attempt to debank an entire industry.” To read the full report, click here.

Crypto Bailout

After being debanked, both Eric and Donald Jr. started to try to convince their father that they needed to get into the crypto market if they were going to survive.

Trump Jr. stated, “We were real estate guys, we were hard assets, we built buildings — [bitcoin] was a bit nebulous. But once we got into that political sector...we were getting de-banked, we were getting de-insured, we were getting de-everything. It was brutal.”

Then Donald Trump got involved, with Junior stating, “We probably, maybe got there a little bit before him. Once we started explaining the potential, he's a quick study ... he got there pretty quickly.”

This became a key point for Trump, and he went after crypto backers to support his campaign, and they clearly influenced his win. Trump got these small sectors together to offset the typical demographics that Dems had locked down.

It Was All True

It turns out, Trump and his businesses were being frozen out because the Biden administration was pressuring banks not to do business with Trump because of January 6.

One banking official stated, “Think back to what it was like being Trump back in 2021; he was a hot potato after January 6 and the regulators made it clear to us that we shouldn’t do business with him.” Another stated that regulators “put the fear of God in you if you did business” with the Trump family.

Trump had commented on this prior, stating, “I had 100s of millions. I had many, many accounts loaded up with cash. I was loaded up with cash, and they told me, ‘I’m sorry, sir, we can’t have you. You have 20 days to get out.’ I said, ‘You’ve got to be kidding. I’ve been with you for 35, 40 years.’”

Now, Republicans are pushing legislation to block this practice, but it is yet again proof that the Biden administration was working hard behind the scenes, abusing its power, to hurt Donald Trump. It will likely take decades before the full truth about that administration comes out, but I suspect it will be the most scandalous administration in the history of our country.