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?
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- 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
Thank you to our sponsors!
- Meltem Demirors, Chief Strategy Officer at CoinShares
- Caitlin Long, founder and CEO of Custodia Bank
- Previous coverage of Unchained:
- 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
- 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’