Bitcoin News Today: Major US Banks Accused of Blocking Fintech Growth With High Fees and Data Barriers

Alex Rampell, a partner at venture capital firm Andreessen Horowitz (a16z), has raised alarms about a new emerging threat to the cryptocurrency and fintech sectors that could undermine their growth and innovation [1]. The concern, described as “Operation Chokepoint 3.0,” reflects an ongoing strategy by major US banks to create barriers for digital finance platforms by imposing excessive transaction fees, restricting access to financial data, and even blocking certain applications from receiving funds [1]. Rampell argued that this is not a new revenue model but a competitive tactic to weaken platforms like Coinbase and Robinhood by making it more costly for consumers to interact with them [1].

According to Rampell, these practices represent a continuation of a broader effort by traditional financial institutions to maintain dominance in the digital payments landscape. He cited the high fees charged for transferring funds to fintech apps, such as a $10 fee for sending $100 to a crypto exchange, as a key tactic to deter users from seeking alternatives to traditional banking [1]. By making these services more expensive or inconvenient, banks are effectively pushing customers back into their own ecosystems, where they have greater control over financial data and services [1].

Rampell also emphasized the importance of Section 1033 of the Dodd-Frank Act, which guarantees consumers’ rights to access their financial data and share it with third parties. He warned that if major banks continue to exploit loopholes or create artificial obstacles, it could erode the competitive landscape and reduce consumer choice [1]. The Consumer Financial Protection Bureau (CFPB) is tasked with enforcing this law, but Rampell expressed concern over the potential for regulatory inaction or misinterpretation [1].

This warning comes at a time of heightened uncertainty for the crypto market. In July 2025, Bitcoin’s price fell toward $113,000 amid increased liquidations and volatility, reflecting broader market fragility [2]. While Rampell did not explicitly tie his concerns to this price movement, the timing highlights the vulnerability of the sector to external pressures beyond market dynamics [2]. Andreessen Horowitz has long been a vocal supporter of crypto innovation, having invested in a number of blockchain startups. Rampell’s cautionary remarks suggest a shift in the firm’s stance or at least a recognition of significant structural challenges [1].

Rampell’s comments align with broader industry concerns about the sustainability of crypto assets. Earlier in July, Bloomberg reported that corporate risk appetite was rising, but executives remained wary about the safety of crypto assets, with one describing a crypto exchange as “risk-free when it isn’t” [3]. These mixed signals point to an ongoing debate about the role of crypto in institutional portfolios and the need for clearer regulatory frameworks [3].

As the financial landscape continues to evolve, Rampell’s insights highlight the importance of proactive governance and regulatory clarity in maintaining the integrity of the crypto ecosystem. The future of decentralized finance will depend on whether regulators and market participants can work together to preserve innovation while ensuring consumer protection and fair competition [1].

Source:

[1] Andreessen Horowitz Partner Reveals New Major Threat Looming Over the Cryptocurrency Industry. (2025, July 25). Retrieved from https://en.bitcoinsistemi.com/andreessen-horowitz-partner-reveals-new-major-threat-looming-over-the-cryptocurrency-industry/

[2] Bitcoin Price Plummets Toward $113K as Total Liquidations Surge. (2025, July 18). Retrieved from https://m.fastbull.com/news-detail/bitcoin-price-plummets-toward-113k-as-total-liquidations-news_6100_0_2025_3_6298_3

[3] Contents - Bloomberg News. (2025, July 31). Retrieved from https://www.advisorperspectives.com/firm/bloomberg-news