Custodia Bank founder Caitlin Long has criticized the recent White House meeting with crypto leaders, deeming it ineffective. She highlighted concerns about Operation Choke Point, a U.S. regulatory effort to use financial restrictions to target the cryptocurrency industry.
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In response to recent enforcement actions by the U.S. Federal Reserve against the crypto-friendly Customers Bank, Tyler Winklevoss, co-founder of Gemini exchange, also voiced criticism. He pointed out that Operation Choke Point 2.0 continues to suppress crypto activities through financial censorship.
Fed Targets Customers Bank: Crypto Industry Responds
On Thursday, August 8, the U.S. Federal Reserve took action against crypto-friendly Customers Bank, citing insufficient anti-money laundering (AML) and risk management practices. Many in the crypto industry view this move as another heavy-handed tactic by the Fed to undermine crypto-friendly banks in the United States.

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Tyler Winklevoss criticized the Harris administration, labeling their “crypto reset” approach as a scam. Meanwhile, Cameron Winklevoss, co-founder of Gemini, expressed support for Customers Bank, stating, “Dear Customers Bank – thank you for banking crypto. We all owe you a debt of gratitude. Your courage will not be forgotten. Sorry, you have to deal with this nonsense. But this too shall pass. Onward!”
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Crypto Industry Criticizes White House Meeting on Regulations
On Thursday, the crypto industry engaged in a heated debate with Democratic leaders during a White House meeting, criticizing their approach to crypto regulations. Reports indicate that U.S. Deputy Secretary of the Treasury Wally Adeyemo and National Economic Council Director Lael Brainard were open to understanding the industry’s concerns.

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However, Caitlin Long, founder of Custodia Bank, dismissed the meeting as unproductive. She criticized the leaders for focusing on words rather than actionable solutions. Long specifically called out Lael Brainard, accusing her of undermining Custodia Bank before her transition from the Federal Reserve to the White House. Long also alleged that Brainard is involved in Operation Choke Point 2.0 and characterized the current developments as mere theatrics. “If she delivers actions to reverse the damage, I’ll be fair and change my mind,” Long added.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#FED #FOMC #Democrats #Coinbase #Bitcoin $BTC $ETH $XRP

Ethereum’s well-known figure, Vitalik Buterin, has moved a large amount of ETH to an unknown wallet. This move has sparked discussions across the market, especially as it happened alongside other big ETH transfers. The timing is notable, as it coincided with an 8% rise in ETH’s price, capturing significant attention from the market.
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Ethereum’s co-founder, Vitalik Buterin, recently transferred 200 ETH, worth around $535,930, to an unknown address. This transaction, pointed out by PeckShieldAlert, has sparked speculation within the cryptocurrency community. The reason for this transfer is still unclear, leading to interesting discussions among investors and analysts.

Notable ETH Transfers Stir Market Activity
Alongside Vitalik Buterin’s recent ETH transfer, other significant Ethereum movements have caught the market’s attention. A hacker linked to the Rain crypto exchange moved 721 ETH, valued at $1.7 million, to Tornado Cash, a well-known coin mixer. Additionally, an address tied to Genesis’ bankruptcy distributions shifted 10.7K ETH, estimated at $28 million, to two new addresses. These actions highlight the dynamic and often unpredictable nature of the crypto market, influencing investor sentiment and market behavior.

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The Ethereum market has reacted positively to these developments, with ETH’s price surging by approximately 8.85% in the past 24 hours, reaching $2,657.16. The trading range for ETH has fluctuated between $2,414.25 and $2,721.95, indicating increased volatility and trading activity. Data from Coinglass shows a significant 15.05% rise in the open interest (OI) of ETH, now at $10.56 billion, along with a 4.76% increase in derivatives volume to $38.66 billion, signaling a strong trading environment.
Ethereum Market Sees Increased Interest Amid Key Developments
An additional factor driving heightened market interest is the upcoming expiration of 206,000 ETH options, with a notional value of $560 million. The put-call ratio is at 0.96, indicating balanced market expectations. Meanwhile, Ethereum developers have confirmed that the Pectra Devnet 2 upgrade is functioning, despite some challenges with execution layer (EL) clients. This upgrade has achieved an impressive 85% network participation, highlighting ongoing development and innovation within the Ethereum ecosystem.

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In summary, recent on-chain activities, including Vitalik Buterin’s significant ETH transfer, emphasize the fluid and evolving nature of the Ethereum market. These movements have sparked market speculation and coincided with notable price gains, reflecting positive sentiment. The ongoing upgrades and high participation levels within the network further cement Ethereum’s role as a dynamic and innovative force in the cryptocurrency world. Investors and market participants should keep a close eye on these developments as they navigate the complex and ever-changing crypto landscape.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Democrats #Coinbase #Bitcoin #WazirX #Ripple $BTC $ETH $SOL