On The Brink with Castle Island Weekly Roundup 01/10/24 (FDIC Pause Letters released, SEC v Coinbase) (EP.589)
7 snips
Jan 10, 2025 This week, legal battles heat up as Coinbase’s appeal against the SEC gains traction. In a surprising twist, the Czech national bank considers Bitcoin for its reserves. Do Kwon is extradited to the U.S., and E-trade finally joins the crypto trading arena. Meanwhile, a court forces the FDIC to disclose more documents related to Coinbase's FOIA request. With Bitcoin's anniversary in sight, the hosts speculate on the future of cryptocurrency ETFs and highlight the growing influence of crypto among financial advisors.
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US Government Bitcoin Sale
- The US government wants to sell $6B of Bitcoin before Trump takes office.
- This Bitcoin comes from a case involving Silk Road, where a claimant unsuccessfully argued the coins belonged to them.
FDIC's Crypto Stifling
- Newly released, less-redacted documents from the FDIC reveal actions to stifle banks' crypto activities.
- These actions extended beyond NYDIG's Bitcoin product, affecting various crypto initiatives.
Coinbase SEC Case Appeal
- The Southern District Court of New York granted Coinbase an interlocutory appeal in its case against the SEC.
- This appeal focuses on whether secondary market crypto transactions fall under US securities laws.
