For folks in the $GME and $BBBY community, this was a bit of a sleeper notice that came out on 9/28 that seems like it's a bigger deal than they are saying. Gotta dig deep to find what they are up to. First, the release:
finance.yahoo.com/news/bny-appro… What does it mean? The key is in this section:

"BNY’s proposed structure includes the use of individual crypto wallets, each of which would have a separate bank account, and would be prohibited from being comingled with bank assets, Gensler said. It’s up to the bank to decide whether to expand the pool of digital asset use cases it’s comfortable custodying, he said."

The recurrent question I get from people in the meme stock community is a good one - "If it is so clear to us, why don't they see it coming?" A couple reasons - a🧵 1. A dependence on modeling the thing that is volatile on a minute basis (ticker data, social media sentiment, etc) over modeling things that have long wave cycles (strategic capital moves, incentive programs, marketing shifts, etc)