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☆ Crypto industry's 'banking battle' is just beginning: Custodia Bank's Caitlin Long
▼ + stars: | 2023-07-20 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto industry's 'banking battle' is just beginning: Custodia Bank's Caitlin LongCaitlin Long, the founder and CEO of Custodia Bank, a Wyoming-chartered special purpose depository institution, weighs in on the implications of Ripple's partial win in the firm's fight with the SEC. She also reacts to the Fed launching its instant payments service as Custodia Bank is in a legal battle with the regulator.

Persons: Custodia Bank's Caitlin Long Caitlin Long Organizations: Custodia Bank, SEC, Fed, Custodia Locations: Wyoming

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC Chair Gensler cites 'Wild West' of crypto in case to boost agency's budget: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Caitlin Long, the founder and CEO of Custodia Bank, a Wyoming-chartered special purpose depository institution, weighs in on the implications of Ripple's partial win in the firm's fight with the SEC. She also reacts to the Fed launching its instant payments service as Custodia Bank is in a legal battle with the regulator.

Persons: Gensler, explainers, Caitlin Long Organizations: SEC, CNBC Crypto, CNBC, Custodia Bank, Fed, Custodia Locations: Wyoming

☆ Goldman Sachs CIO says it's important to decide who in a firm to 'superhumanize' with AI technology
▼ + stars: | 2023-05-11 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

Goldman Sachs' Marco Argenti told a conference how he assesses AI's return on investment. Firms can use AI to "superhumanize" talent, Argenti said. The top financial services firms, like Goldman Sachs, are looking to use artificial intelligence to "superhumanize" their talent. Generative artificial-intelligence will enhance productivity and efficiency across financial services, according to Marco Argenti, chief information officer at Goldman Sachs. Within Goldman Sachs, Argenti said the bank is looking to apply generative AI to data management, data classification, and workflow creation.

☆ Experts from Amberdata, Custodia Bank, and United States for Kraken discuss the role digital assets are going to play in the future of finance
▼ + stars: | 2023-03-29 | by ( Elizabeth Wood | ) www.businessinsider.com time to read: +4 min

Today's financial system is growing, transforming, and increasingly focused on the adoption of digital assets. Shawn Douglas, cofounder and CEO of Amberdata, said that, "Digital assets are the "financialization of the internet," citing blockchain to safeguard real-world assets and, in digital rights management (like NFTs) as examples. CEO of Custodia Bank, Caitlin Long, believes the role of digital assets exists in the payments world. There are, of course, challenges to adopting digital assets including concerns about centralized banks and government agencies. Throughout the conversation, Hirsch remained focused on the potential digital assets have to enable greater freedom globally.

☆ CFTC's suit against Binance: No allegations of outright fraud, Custodia Bank says
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFTC's suit against Binance: No allegations of outright fraud, Custodia Bank saysCaitlin Long of the bank says "the U.S. has essentially gone after every crypto company that is doing business in the U.S., whether lawful or law-dodging."

☆ Bank runs have the crypto industry on high alert. 3 experts explain why the latest batch is especially worrisome — and what comes next.
▼ + stars: | 2023-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +10 min

Only a decade ago, bank runs happened at a much slower pace. The era of digital bank runsOne thing the past few weeks has made clear is that bank runs now unfold differently, especially for smaller banks that service specialized sectors. "Bank runs are evolving into a different and much more dangerous beast because they happen faster," Baker said. By comparison, on March 9, SVB lost $42 billion in a day — and it was a smaller bank, Baker added. Long said she warned regulators again after FTX collapsed that banks servicing the crypto sector face the danger of bank runs.

☆ Crypto is an insurance policy, it's a scarce asset, says Custodia Bank's Caitlin Long
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto is an insurance policy, it's a scarce asset, says Custodia Bank's Caitlin LongCaitlin Long, Custodia Bank founder, joins 'The Exchange' to discuss her bullish outlook for a crypto return.

☆ Crypto just lost both of its main banks. Here's what it means for the industry going forward
▼ + stars: | 2023-03-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

The days before the industry had crypto-forward banks to turn to were some of the darkest for the industry. At the end of February, three major banking regulators issued a joint statement warning banks of the liquidity risks associated with banking crypto companies. "Banks and law firms are getting a clear message from regulators: distance yourselves from crypto companies," said Ric Edelman, founder of the Digital Assets Council of Financial Professionals. "But for the moment, crypto companies are increasingly finding themselves where cannabis companies were a decade ago." Employees work at a Signature Bank branch in Manhattan on March 13, 2023 in New York City.

☆ Silvergate and Silicon Valley Bank show the risks of banks concentrating in one area
▼ + stars: | 2023-03-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Crypto-focused Silvergate , which announced its plans to liquidate this week, is suffering from woes similar to that of failed Silicon Valley Bank . That is, Silvergate's distress is linked to rising interest rates – rather than the whims of digital assets. There is also an impact from the rising interest rate environment banks now find themselves in. "As the bank of choice for crypto, Silvergate Bank's failure is disappointing, but predictable," she tweeted Wednesday afternoon . Now, customers must be made whole [and] regulators should step up against crypto risk."

☆ Why Silvergate’s post-FTX financial woes could spell trouble ahead for crypto
▼ + stars: | 2023-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Further, the spillover into a traditional bank and its stock price could fuel regulators' arguments that crypto poses a systemic risk. The big problem in crypto is that to buy bitcoin, you eventually have to interact with the traditional banking system. Silvergate's crypto bet worked for the bank, particularly in bull markets. A big part of Silvergate's crypto banking efforts was the Silvergate Exchange Network, better known as SEN, a platform that institutions used to move money to crypto exchanges. Custodia is a Wyoming-chartered special purpose depository institution designed to bridge the crypto and traditional banking systems.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin and Ether rise despite Silvergate suspending its crypto payments network: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Caitlin Long, founder and CEO of Custodia Bank, which aims to bridge traditional finance and digital assets, discusses the uncertainty at Silvergate Bank.

☆ U.S. Federal Reserve rejects Custodia Bank's request for reconsideration of Fed supervision
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: 1 min

Feb 23 (Reuters) - The U.S. Federal Reserve on Thursday denied crypto-focused Custodia Bank's request that the central bank reconsider its application to become a member of the Federal Reserve System. The Fed previously said Custodia, which is based in Wyoming and is chartered through the state as a special purpose depository institution, lacked a sufficient risk management framework to address the heightened risks associated with crypto. Reporting by Hannah Lang in Washington; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Federal Reserve rejects crypto-focused bank's application to be supervised by the Fed
▼ + stars: | 2023-01-27 | by ( Hannah Lang | ) www.reuters.com time to read: +2 min

[1/2] The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File PhotoJan 27 (Reuters) - The U.S. Federal Reserve on Friday rejected crypto-focused Custodia Bank's application to become a member of the Federal Reserve System, saying the bank's proposed business model and focus on digital assets presented significant safety and soundness risks. Custodia Bank Chief Executive Caitlin Long said in a statement that the bank was "surprised and disappointed" by the Fed's decision. “Custodia actively sought federal regulation, going above and beyond all requirements that apply to traditional banks," she said. Separately, Custodia has sued the Federal Reserve Bank of Kansas City, arguing that it has unfairly delayed a decision on Custodia' application for a highly coveted master account, which gives companies access to Fed payment services.

☆ Sam Bankman-Fried pleads not guilty to all counts
▼ + stars: | 2023-01-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSam Bankman-Fried pleads not guilty to all countsNBC Legal Analyst Danny Cevallos and Caitlin Long, founder and CEO of Custodia Bank, join 'Power Lunch' to discuss FTX CEO Sam Bankman-Fried's decision to plead not guilty to all charges related to the bankruptcy of his company.

As questions swirl about how much cryptocurrencies will be worth in the wake of the spectacular collapse of the crypto exchange FTX and other major platforms, a key question has emerged: Who will keep your crypto safe? Prior to its collapse, FTX was the world's fifth-largest cryptocurrency exchange, according to data from the crypto group CoinGecko cited by Reuters, processing $627 billion in trading volume year-to-date. But as cryptocurrencies broadly became more mainstream, companies and exchanges sprang up that allowed people to buy crypto without those steps. Today, platforms seemingly untouched by the FTX collapse, like Coinbase, have sought to reassure their users that their assets remain safe and, in some cases, are not subject to lending. Instead, there are growing calls for increased regulation that would force crypto exchanges to keep customers' money firewalled so that it cannot be repurposed for other uses.

☆ The insolvency FTX had all along is being revealed, says Custodia Bank CEO Caitlin Long
▼ + stars: | 2022-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe insolvency FTX had all along is being revealed, says Custodia Bank CEO Caitlin LongCaitlin Long, Custodia Bank CEO and blockchain expert, joins 'The Exchange' to discuss the fallout of FTX, the impact it will have on other digital currencies and the liquidity and insolvency problem associated with crypto.

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