As a researcher with a background in finance and experience following the crypto industry, I find Caitlin Long’s perspective on the ongoing lawsuit against the Federal Reserve Board intriguing. Her strong stance on Custodia Bank’s right to receive a master account based on its Wyoming charter is an important issue for the crypto community. If successful, this could open doors for other entities in the crypto space and potentially lead to further institutional adoption.
The CEO of Custodia Bank, Caitlin Long, shared her perspective on the significant lawsuit against the Federal Reserve Board that has gained prominence within the crypto sector. Additionally, she offered an insight into when she believes the price of Bitcoin may surge, as it continues to hover within its current range following a fresh record high.
Custodia Bank CEO On Lawsuit Against Fed
Caitlin Long, the CEO of Custodia Bank, and Michelle Kallen, an appeals attorney for the bank, recently discussed the latest developments in their ongoing legal dispute with the Federal Reserve Board during an interview on CryptoLawTV with lawyer James Murphy.
Long argues that both the Federal Reserve and the Office of the Comptroller of the Currency have unfairly denied a master account to Custodia Bank for no valid reason. She asserts that the Fed has failed to abide by the law in their decision-making process regarding this request. Custodia is a Wyoming-chartered special-purpose depository institution, which Long believes should qualify it for receiving one of these accounts. Moreover, she criticizes Senator Elizabeth Warren for persisting in her efforts to debank cryptocurrency businesses, with the ongoing Operation Choke Point 2.0 reportedly still active within the Fed and banking regulators.
According to the Supreme Court, Kallen noted that both states and federal authorities hold responsibilities in overseeing the banking system. Obtaining a master account for Custodia Bank is expected to bring significant benefits not just for the crypto sector but also for other entities pursuing similar accounts.
Bitcoin Price Prediction
As a crypto investor, I’ve closely followed Caitlin Long’s insights and predictions, which have proven to be remarkably accurate. For instance, she foresaw stablecoins amassing hundreds of billions in market capitalization, and she wasn’t far off when she predicted that Wall Street would eventually embrace Bitcoin. Her most striking prediction, however, was the massive short squeeze we’d witness once Wall Street officially adopted Bitcoin – an event that could potentially redefine financial history.
Expert here: In her latest forecast, Long anticipates an exceptionally robust Bitcoin bull market preceding the US presidential election. The underlying fundamentals remain solid, despite the current dip in value. Historically, Bitcoin’s price has dipped following every halving event due to miner shakeouts, with those unable to continue operations selling off their BTC holdings. However, Long is optimistic that Bitcoin’s price will surge significantly in October.
The price of Bitcoin is presently at $61,472, representing a 1% increase. Institutional investors and large-scale buyers have taken advantage of the recent dip in the market. However, trading activity has decreased by approximately 35% over the past day. Meanwhile, the Spot Bitcoin ETF recorded its initial inflow after a prolonged period, with an approximate net investment of $31 million.
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2024-06-26 16:39