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On The Brink with Castle Island
Weekly Roundup 01/10/24 (FDIC Pause Letters released, SEC v Coinbase) (EP.589)
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.
38:37
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Quick takeaways
- The ongoing SEC litigation against Coinbase may significantly reshape how digital asset transactions are classified within U.S. securities laws.
- Recent investment activities and mergers in the cryptocurrency sector indicate a resilient interest in innovation despite regulatory challenges and market volatility.
Deep dives
Lehman Brothers and Government Interventions
Lehman Brothers, overwhelmed by poor mortgage investments, is set to be liquidated, marking a significant event in the financial sector. In response to the crisis, the federal government extended an $85 billion loan to American International Group (AIG) to stabilize the situation. The government is also taking measures to support mortgage giants Fannie Mae and Freddie Mac, which are facing threats due to the ongoing housing crisis. These interventions indicate a critical juncture for both traditional finance and digital assets, demonstrating how governmental responses shape market dynamics.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode