Kraken’s Banking Odyssey: From Exclusion to Financial Reintegration
The cryptocurrency industry has weathered a transformative banking crisis over the past three years, with major players like Kraken facing unprecedented financial exclusion. Dubbed 'Operation Choke Point 2.0,' this systematic debanking affected everything from innovative web3 startups to fully regulated entities, often occurring without transparent justification. According to AIMA's December 2024 data, a staggering 98% of crypto hedge funds received no clear explanation for their account terminations, highlighting the opaque nature of these financial restrictions. However, 2025 has marked a significant turning point in this narrative. The industry is now witnessing a remarkable shift toward 'rebanking' as traditional financial institutions increasingly recognize the legitimacy and potential of digital assets. Kraken's journey through this challenging landscape exemplifies the broader industry's resilience, navigating from being systematically excluded from banking services to gradually regaining financial access. This reversal reflects growing regulatory clarity, improved compliance frameworks within crypto businesses, and changing attitudes among banking partners who now see the crypto sector as too substantial to ignore. The evolving relationship between traditional finance and digital assets suggests a future where crypto companies can operate with the same financial accessibility as conventional businesses, potentially unlocking new growth opportunities and mainstream adoption.
Debanked to Rebanked: The Shifting Landscape of Crypto Financial Access
The crypto industry's struggle with banking access has reached a pivotal moment. For three years, firms from web3 startups to regulated entities like Kraken and Custodia Bank faced abrupt financial exclusions—often without explanation. A staggering 98% of crypto hedge funds received no clear justification for account terminations, per AIMA's December 2024 data.
Dubbed 'Operation Choke Point 2.0,' this de facto banking blockade mirrored historical crackdowns on politically disfavored sectors. Risk-averse compliance teams and regulatory fears left thousands of crypto businesses, including payments processors and hedge funds, stranded.
The tide may be turning. On August 7, 2025, President TRUMP issued an executive order curtailing regulators' ability to weaponize financial access—a move informed by his family's own experience with such tactics. The crypto industry watches closely as this could redefine the rules of engagement between digital assets and traditional finance.
Ethereum Price Poised for Breakout as Institutional Whales Accumulate
Ethereum's price action suggests a potential surge to the $7,000-$8,000 range, according to technical analyst Ash Crypto. The completion of corrective waves indicates an impending "impulsive wave 5" that could drive ETH to new highs.
BitMine Immersion Technologies has solidified its position as Ethereum's largest corporate holder, acquiring an additional 104,336 ETH worth $417 million this week. The firm now controls 2.5% of Ethereum's total supply—3.03 million ETH valued at over $12 billion.
Tom Lee, BitMine's chairman and former Fundstrat strategist, views these acquisitions as strategic rather than speculative. His $10,000-$12,000 price target for 2025 reflects confidence in Ethereum's fundamental drivers: anticipated Federal Reserve rate cuts, growing tokenized finance infrastructure, and the network's technological advantages.
Greenlane Secures $110M to Build BERA Crypto Treasury
Nasdaq-listed Greenlane Holdings has raised $110 million in a private placement to establish a Berachain (BERA) token treasury, positioning itself as the largest publicly traded holder of the altcoin. The funding round was led by Polychain Capital, with participation from Kraken, Blockchain.com, and other notable investors.
Berachain, a LAYER 1 blockchain utilizing a Proof of Liquidity validation model, continues to gain traction among institutional players. Greenlane will execute its BERA accumulation strategy through OTC and market purchases, while simultaneously launching a new crypto asset management arm called BeraStrategy.
"BeraStrategy represents a pivotal moment in Berachain's institutional adoption," said Jonathan IP of the Berachain Foundation. "Their expertise across traditional finance and crypto markets uniquely positions them to expand BERA's ecosystem impact."
