On The Brink with Castle Island Weekly Roundup 01/17/25 (Lummis FDIC letter, the Tether tower, American made coins) (EP.590)
Jan 17, 2025
In the latest discussion, the FDIC faces scrutiny as Lummis advocates for evidence preservation. Coinbase celebrates a legal win against the SEC and unveils innovative products. Tether shifts its headquarters to El Salvador, hinting at a new crypto hub. The conversation delves into stablecoins' evolution and their rising significance, alongside speculations about Bitcoin's global influence and recent acquisitions by banks. Also, there's playful banter over sports and player predictions.
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Impact of SAB 121 Removal
- The removal of SAB 121 could significantly change the landscape for Bitcoin custody.
- Banks like BNY Mellon are prepared to offer custody services, potentially leading to wider adoption.
Lummis' Letters
- Senator Lummis sent two letters, one to the U.S. Marshals Service and one to the FDIC.
- The latter accused the FDIC of destroying evidence related to digital asset activities.
FDIC Monitoring Social Media
- FDIC whistleblowers alleged that staff were monitoring Nick Carter's social media and made disparaging remarks about his financial status.
- The whistleblowers claim to have audio recordings of these conversations.