Days after JPMorgan Chase & Co. admitted to debanking President Donald Trump after the Jan. 6, 2021 attack on the Capitol, the Federal Reserve seeks comments on its proposal that would stop government supervisors from pushing banks to sever ties with lawful customers based on their activities, including crypto companies.

“We have heard troubling cases of debanking — where supervisors use concerns about reputation risk to pressure financial institutions to debank customers because of their political views, religious beliefs or involvement in disfavored but lawful businesses,” including cryptocurrency, said Vice Chair for Supervision Michelle W. Bowman.

“Discrimination by financial institutions on these bases is unlawful and does not have a role in the Federal Reserve’s supervisory framework,” she added.

The Office of the Comptroller of the Currency, in its capacity as the supervisor of national banks, had already moved to cut reputational factors from its supervision last year, and the Federal Reserve had similarly announced in July that such risk would no longer be a part of its bank examinations, so this rule process would codify that move.

Crypto debanking has been well documented and freely acknowledged by banking regulators appointed by Trump, though new examples continue to emerge. In a response to a lawsuit filed last month by Trump and the Trump Organization, JPMorgan, the nation’s largest bank, said for the first time that it cut off more than 50 Trump accounts in February 2021. JPMorgan did not specify a reason for closing the accounts. On Nov. 23, 2025, Jack Mallers, CEO of crypto payments company Strike, wrote a social media post that immediately went viral, saying JPMorgan closed all his accounts without cause.

In a Jan. 26 memo to the Board of Governors, the Fed’s staff wrote that the board’s proposal would “codify the removal of reputation risk from the Board’s supervisory programs” and prohibit the Fed from “encouraging or compelling” banks to deny or condition services to customers involved in “politically disfavored but lawful business activities.”

In the proposal, the Fed Board said it intends to include “permitted payment stablecoin issuers” within its definition of covered banking organizations after completing separate rulemakings, a move that could directly affect crypto-native firms seeking access to the banking system.

The Fed said comments on its proposal to remove reputation risk from its supervision of banks are due in 60 days from Feb. 23.

Ether (ETH) whale activity on a major exchange has slowed since the start of 2026, with roughly 2 million ETH traded in large-sized transactions over the past 45 days.

ETH is currently in the midst of its worst weekly losing streak since 2022, with exchange flow trends and futures market liquidation data impacting investor expectations for Ether’s short and long-term price direction in the broader market.

Ether whale order size hints at fading participation

CryptoQuant data shows that the average ETH whale sell orders on Binance have fallen to around 1,350 ETH in recent weeks, down from roughly 2,250 ETH in early January. Assuming 15 to 35 whale-sized executions per day, the cumulative gross sell-side turnover since Jan. 8 is estimated at around 1.8 to 2 million ETH over the past 45 days.

Using an average price of $2,400, this activity equates to roughly $4.3 billion to $4.8 billion in large-order executions. The figure reflects gross traded volume, not confirmed net outflows, as part of the flows may relate to hedging or liquidity provision within the derivatives market.

Crypto analyst Darkfost said the decline in the average order size points to a “gradual disengagement” from larger participants. According to the analyst, smaller traders continue to transact at stable volumes, while bigger players are reducing direct interaction with the order books.

This shift indicates a temporary thinning of market depth. With fewer large resting orders, ETH’s capacity to absorb sharp price imbalances narrows in the short term.

Parallel to exchange flows, ETH accumulation addresses added more than 2.5 million ETH in February as the price fell about 20%. Total holdings climbed to 26.7 million ETH from 22 million at the start of 2026, signaling steady demand beneath the surface.

Related: Ethereum price drops to $1.8K as data suggests ETH bears are not done yet

Will Ether break its longest bearish streak since 2022?

Ether is now in its sixth straight week of losses, marking the longest uninterrupted weekly decline since the 10-week drawdown between March 2022 and June 2022. That earlier stretch unfolded during a broader bear market and led to a cycle bottom before price stabilized.

While the current pullback is not as long, the streak highlights sustained selling pressure and weakening momentum on the higher timeframe.

Historical market cycle data suggests that if the decline continues, a broad weekly demand zone between $1,384 and $1,691 may come into focus, an area that previously acted as accumulation during the early stages of the rally in 2023.

Futures market liquidation data shows more than $2 billion in short positions clustered around $2,000. This creates a dense liquidity pocket that may act as the near-term magnet for Ether price.

On the downside, approximately $682 million in long positions remain at risk if Ether drops to $1,600, indicating thinner liquidity compared to the upside cluster.

Crypto trader RickUntZ said he still sees potential for a V-shaped rebound from current levels, citing signs of underlying demand in the current structure. For now, data suggests that the $2,000 liquidation band remains the next key resistance to break.

Related: Ethereum Foundation starts staking ETH as client diversity concerns persist