Caitlin Long, founder and CEO of Custodia Bank, and Meltem Demirors, chief strategy officer of CoinShares, share their concerns about crypto in the U.S. following a wild week in the banking sector. With Signature Bank’s takeover looking like a targeted takedown and crypto-friendly upstarts like Custodia being shadowbanned by the Fed, the two longtime experts look ahead at the fights to come. Is USDC next to land in regulators’ crosshairs?
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
how crypto is viewed as a “big, scary, and strange” industry
how Signature and Silvergate became so important for the crypto industry with SEN and Signet
why Caitlin says it’s “crystal clear” that we are now in Operation Choke Point 2.0, with U.S. regulators pushing to debank the crypto industry
why Caitlin says the Fed’s vote against Custodia’s application was preordained
whether Sen. Elizabeth Warren had an impact on the current crisis
how everything comes down to game theory
whether VCs are responsible for causing the bank run
whether the rollback in 2018 of certain provisions of the Dodd-Frank Act played a role in the recent collapse
Caitlin’s hot takes on what happened with Signature Bank
the unique characteristics of Custodia’s business model as a bank
how stablecoins challenge the current financial system
why it’s so important for crypto to improve its public perception
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Guests:
Meltem Demirors, Chief Strategy Officer at CoinShares
Caitlin Long, founder and CEO of Custodia Bank
Links
Previous coverage of Unchained:
Jim Bianco on Why the Banking System Has Always Been Broken
The Fed Is In Checkmate: What Will Powell Do?
The Fall of SVB: What Happened and How It Affects Crypto
NYT: Congress Approves First Big Dodd-Frank Rollback
NYMAG: Barney Frank Talks More About the Surprise Shuttering of Signature Bank
WSJ Editorial Board: Signature Bank’s Crypto Execution
Unchained:
FDIC Denies Asking Signature Buyers to Give Up Crypto: Report
Was Signature Bank Actually Insolvent?
Circle to Bring On New Banking Partner for USDC Minting, Redemption
Circle Clears Backlog of USDC Minting and Redemption Requests
Regulators Close Signature Bank Following SVB Collapse
Silvergate to Wind Down Operations in ‘Voluntary Liquidation’
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