On The Brink with Castle Island Weekly Roundup 11/28/24 (OFAC loses vs Tornado, Cantor owns some Tether, More OCP2.0, Who we’re thankful for) (EP.578)
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Nov 28, 2024 Thanksgiving takes center stage, with humorous tales of cooking mishaps and the joys of family gatherings. Legal developments shine with a court ruling overturning sanctions on Tornado Cash, setting a new precedent for decentralized finance. The future of crypto regulation is discussed, hinting at a potential shift from the SEC to the CFTC. Gratitude flows as notable players in the industry are acknowledged, while speculation about a Strategic Bitcoin Reserve stirs curiosity about its impact on government debt. The excitement of upcoming ventures in 2025 adds to the festive spirit.
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MicroStrategy's Bitcoin Purchase
- MicroStrategy bought 55,500 Bitcoin for $5.4 billion, becoming the largest corporate holder.
- This fueled speculation of Bitcoin reaching all-time highs, but the disclosure caused a sell-off.
Debanking of Crypto Startups
- Mark Andreessen's appearance on the Joe Rogan podcast highlighted the debanking of crypto startups.
- Non-crypto technologists expressed surprise at the revelations, demonstrating the issue's severity.
Personal Debanking Experiences
- Matt Walsh and Nick Carter shared their personal experiences with debanking.
- Carter recounted being debanked in 2016 for wiring funds to Bitfinex, while Walsh's firm faced similar issues.