ConsenSys CEO Joseph Lubin revealed that his company, known for developing the MetaMask wallet, has faced debanking incidents twice amidst U.S. authorities' attempts to exclude it from the financial system during Operation Chokepoint 2.0. Despite being pressured by regulators, a large U.S. bank, identified as Wells Fargo, resisted shutting down ConsenSys' account. Lubin noted that they managed to avoid operational issues by maintaining redundant backup accounts. However, ultimately, the pressure proved too significant, and the bank had to close the account. Earlier, another banking partner had closed both Lubin's personal and company accounts with minimal explanation. These incidents highlight the increasing trend of crypto businesses facing debanking pressures amidst regulatory scrutiny, as some banks attempt to resist such pressures.

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