Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Caitlin Long 🔑⚡️🟠 Profile picture
@CaitlinLong_
Sep 26, 2020 • 7 tweets • 2 min read • Read on X
WHOA! What a speech by @CynthiaLummis (almost certainly about to become a US Senator) re why #bitcoin is a store of value, which may rise to be an alternative to the US dollar."I bought my first #bitcoin in 2013 bc I believe in the economic power of scarcity...now I'm a HODLer"🤠
HOLY COW--this is a stunning speech!
She just attacked the Bank Secrecy Act!
Oh my--she just advocated for a repeal of many of these regulations, which are also choking community banks that are so important to the local #Wyoming economy
I think we just heard the most powerful speech in #crypto in months, folks! I'll try to find a replay link to will post
I particularly loved her point about the real innovation coming from the states ("living laboratories"), & why states need an advocate in DC to ensure the feds don't steamroll them. WOW, just wow!
UPDATE -- the replay of @wyohackathon should be available tomorrow, so stay tuned!🤠

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Caitlin Long 🔑⚡️🟠

Caitlin Long 🔑⚡️🟠 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @CaitlinLong_

Caitlin Long 🔑⚡️🟠 Profile picture
Mar 25
1/ WE TOOK TERRITORY by issuing the first bank-issued #stablecoin on a permissionless blockchain & it's not what you think. 🧵 below. The real impact is on #tradfi--yes, #crypto took regulatory territory, but #tradfi is the real story in what @custodiabank did w/ @Vantage_Bank. Image
2/ Background: Fed Governor Waller's #stablecoin speech a few wks ago distinguished btwn "real" dollars & "synthetic" dollars, noting stablecoins are synthetic. Only the Fed + special types of entities legally authorized to take demand deposits can issue *real* dollars.
federalreserve.gov/newsevents/spe…
3/ Crypto doesn't care abt that distinction, but to #tradfi that distinction is EVERYTHING. Why? bc tradfi must care about legal, accounting & tax rules. I can't give legal, accounting or tax advice, but when a bank authorized to issue a dollar issues a dollar, it's a dollar.💡
Read 10 tweets
Caitlin Long 🔑⚡️🟠 Profile picture
Feb 18
1/ Prime Trust's bankruptcy Plan Admin recommended that its #crypto custody customers--who thought they owned the custodied assets--take a haircut. Amount not clear yet (Celsius custody customers took a 27.5% haircut). These situations were sadly avoidable. courtlistener.com/docket/6769170…Image
Image
2/ Context: bankruptcy is a process designed to maximize the recovery of assets for a bankrupt company's estate, while a bank's receivership is a process designed to protect a bank customers. When a non-bank fails, it goes to bankruptcy. When a bank fails, it goes to receivership
3/ So, the Prime Trust discussion is only a bankruptcy discussion because Prime Trust wasn't a bank.

Prime Trust went bust and has an asset shortfall, so a bankruptcy judge must decide whether its custody customers will get all their assets back or will take a haircut.
Read 9 tweets
Caitlin Long 🔑⚡️🟠 Profile picture
Jan 29
1/ NEW BLOG: "How To Keep The #Bitcoin Strategic Reserve From Morphing Into A Bailout Fund." Did you know SBF publicly advocated for a crypto bailout fund just 1 month before FTX failed? Story 👇Lesson: don’t let future Sams hijack the SBR for a bailout!!!
caitlin-long.com/how-to-keep-bi…
2/ In the blog I analyze #bitcoin as a reserve asset (key is its favorable inflation rate differential)--but condition my support for a BSR on drafting legislation w/ 4 specific prohibitions to prevent insolvent-but-politically-connected people from ever using it for a bailout: Image
3/ The favorable inflation rate differential between #bitcoin & US dollar + strategic benefits make bitcoin worth considering as a reserve asset, but the consensus mechanisms of other #crypto can be too easily changed to permit higher inflation so I don't support including them: Image
Read 6 tweets
Caitlin Long 🔑⚡️🟠 Profile picture
Jan 10
🚨HUGE NEWS on #debanking & #OperationChokePoint2.0: a little birdie told me that @FDICgov Vice Chair Travis Hill just spoke at an ABA meeting & said there is no place at the FDIC for those who explicitly or implicitly supported its debanking initiative. Transcript not avail yet
Travis Hill is a Republican & is vice chairman of the FDIC—has been outvoted by Biden/Warrenites on the FDIC board, but that will change on Jan 20 when Gruenberg steps down.

👀 @nic__carter @CampbellJAustin @iampaulgrewal @vronirwin
It'll be soooooooo interesting to see if Hill went off-script. Don't forget Gruenberg's people still control the FDIC (head of comms is allegedly trying to silence online critics of #debanking, so I doubt such remarks would've made it thru official editing of his speech, which should be posted at this site soon):
fdic.gov/news/speeches
Read 4 tweets
Caitlin Long 🔑⚡️🟠 Profile picture
Jan 6
1/ 🚨THE FED'S DEBANKER-IN-CHIEF IS OUT! Michael Barr, the last remaining Biden/Warren appointee who architected #OperationChokePoint2.0 at a federal financial agency, will resign as vice chair for supervision in Feb (see @nic__carter's March 2023 map👇).
federalreserve.gov/newsevents/pre…Image
2/ It was an open secret in DC that Trump was likely to fire him. He had a terrible, horrible, no good, very bad reign as Fed Vice Chair for Supervision--the WSJ covered only some of why 👇, calling him "a favorite of Elizabeth Warren" but omitting a lot:
wsj.com/opinion/a-fede…
3/ Barr siloed information within the Fed, as of Oct 2022 sending Fed supervision staff a memo prohibiting them from talking to other Fed governors unless they’d spoken with him first👇
Read 6 tweets
Caitlin Long 🔑⚡️🟠 Profile picture
Dec 1, 2024
1/ NEW FACTS REVEALED: 2 years ago today, the Fed quietly hammered 5 banks & thereby kicked off its industry-wide dragnet against banks serving the #crypto industry. @joerogan & @pmarca recently made discussions about #debanking go mainstream, which makes today’s anniv notable.
2/ On the Sunday after Thanksgiving 2022 (11/27/22), the Fed hit the first of these 5 banks w/ regulatory actions targeting their crypto activities, and its blitz carried into the following work week. Thus began what @nic__carter would later dub #OperationChokePoint2.0.
3/ How did I learn these facts? I pieced together public info + info from insiders who came forward & filled in puzzle pieces for me. I know the 5 banks’ names but won’t disclose them here. Publicly-available info confirms @custodiabank was one of them.
Read 12 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(