On The Brink with Castle Island
Weekly Roundup 05/24/24 (ETH ETF, FIT21 Act, Anti CBDC bill) (EP.530)
May 24, 2024
This podcast episode covers the exciting approval of the ETH ETF by the SEC, the implications of the FIT21 act, and the passing of the anti-CBDC bill in the House. Additionally, they discuss significant political events like the SAB121 overturn and Marty Gruenberg's resignation, along with personal encounters with wildlife and recent blockchain investments.
34:04
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Quick takeaways
- SEC approves the ETH ETF, marking a shift in their stance on cryptocurrency investments.
- The FIT21 Act promotes regulatory clarity by distinguishing securities from commodities, gaining bipartisan support.
Deep dives
Financial Market Instability and Interventions
The episode discusses the financial market's turmoil, including the collapse of Lehman Brothers due to bad mortgage investments, the federal government's $85 billion bailout of AIG, and interventions to stabilize Fannie Mae and Freddie Mac threatened by the housing crisis. Additionally, the Bank of England injected 75 billion pounds into the UK economy, causing concerns about currency devaluation and the emergence of innovative forms like Bitcoin.
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