Can crypto companies get bank accounts? - Episode 134
ฝัง
- เผยแพร่เมื่อ 26 ก.ย. 2024
- Cas Piancey and @bennettftomlin discuss the evolving banking situation in the cryptocurrency industry, and how hard it is for companies to maintain banking relationships.
This video was recorded on October 9th, 2023.
Read more: cryptocriticsc...
Additional episodes mentioned in this episode:
Episode 111 - Silvergategate: The unbanking of Silvergate Bank
• Silvergategate: The un...
Episode 101 - Banking on Regulators - A FTX Story (Recorded Live)
• Banking on Regulators:...
Episode 106 - Crypto Banks Give Up
• Crypto Banks Give Up -...
Episode 116 - The FDIC, Infinite Insurance, and Moral Hazards (feat. Rohan Grey)
• How To Insure All Bank...
Episode 6 - Crypto Capital Corp: the quiet billion dollar cryptocurrency scam
• Crypto Capital Corp: t...
Episode 129 - Circle is losing to Tether (feat. Leo Schwartz)
• Circle is losing the s...
Episode 119 - Binance and Coinbase Sued by the SEC (feat. Dirty Bubble Media)
• Binance and Coinbase S...
Episode 7 - QuadrigaCX: the Canadian cryptocurrency exchange that just won’t die
• QuadrigaCX the Canadi...
Episode 60 - The Foul Financials of Cryptocurrency (Feat. Francine McKenna)
• The Foul Financials of...
Episode 44 - Poker’s Black Friday (Feat. Jason Bral)
• Poker's Black Friday (...
Episode 1 - Tether: A Stable Discussion
• Tether: A Stable Discu...
Episode 2 - Tether: A Stable Discussion Continued
• Tether: A Stable Discu...
Episode 81 - Bitcoin ETFs, Regulatory Clarity, and the SEC (Feat. James Seyffart)
• Bitcoin ETFs, the SEC,...
Episode 133 - Did Sam Bankman-Fried’s Defense Blow It? (feat. David Z. Morris)
• Did Sam Bankman-Fried'...
Additional resources:
CoinDesk article about Bitstamp
www.coindesk.c...
Protos article about Prager Metis
protos.com/acc...
Protos coverage of Moonstone
protos.com/tag...
Other places to find Crypto Critics' Corner
Website: cryptocriticsc...
Discord: / discord
Bluesky: bsky.app/profi...
Mastodon: mstdn.social/@...
Twitter: / cryptocriticpod
Instagram: / cryptocriticpod
TikTok: vm.tiktok.com/...
Bennett's TH-cam: @bennettftomlin
Bennett's D&D TH-cam: @BTDND
Bennett's BlueSky: bsky.app/profi...
Cas' BlueSky: bsky.app/profi...
Bennett's Mastodon: mstdn.social/@...
Bennett's Twitter: / bennetttomlin
Cas' Twitter: / caspiancey
Bennett's Newsletter: TheFUDLetter.com/
Cas' Blog: / thecaspiancey
Bennett's Blog: bennettftomlin...
Timestamps:
#crypto #cryptocurrency #podcasts #listenable #banks #banking
the problem is that in the process of becoming acceptable clients for banks these companies/exchanges become unacceptable to the crypto users
You can't always get what you want, Roger. But if you try sometime, you just might find you get what you need...
If you're a bank why deal with them? You're just going to have to give John Ray III all the money back in a couple years. They're all ponzi schemes.
Honestly my favorite parts of these episodes are the ads for Cas coins. To the moon!!!
Crypto: We will free ourselves from the slavery of Banking!!!!
Also Crypto: Hey uh... can I get a bank account, please?
🤣🤣🤣
Stacking up my Cas coin by hitting the like and leaving a comment. Great works as always you two
CasCoin is going tooda moon, I'm sure.
I’m legally barred from agreeing, but obviously
A crypto I can get by hitting the like button is the best, don't got real dollars to get hustled by other coins
💎🙌 CasCoin Guys
Banks have these "know your customer" rules (watch Al Pacino's "Scarface" to see why), and crypto, by design, is supposed to be all about anonymity. So we have a bit of a culture clash, don't we?
Exactly! The very identity of crypto currencies is entirely at odds with the attempts of any rule of law system such as all Western Democracies to prevent money flow for criminal activity. There is only one mystery here: why is the existence of crypto currencies not yet outlawed?
I was gonna disagree with the example of that jp Morgan guy with epstein in the Virginia islands until I realized he knew his customer and used his services
Crypto currency is everything you don't know about computers, combined with everything you don't know about money. Good luck with that.
lol, that's pretty good. Did you come up with that phrase, or witticism yourself? If yes, well done.
Indeed I am gonna steal that like ftx deposits
News Flash. Two guys had lunch and talked about the future possibities.
Loved this episode. Loved the “fight” over whether ftx customers were like online poker addicts back in the day
Reassuring to know Cas Coin isn't like the other coins...
Very strong predictions. All will ring true, and then some
Really good discussion! As someone who sells adult content online, I can say that crypto companies have a much easier experience working within the grey area of banking than we do since they at least have financial power they can entice them with XD The stance banks take aren't based on morality, but entirely on trying to maintain a not-super-negative public perception, so I think the future really depends on which political party politicizes crypto as a whole. Really interested to see what comes from the SBF trial and how that is manipulated to serve their needs.
I have not read the article - but simple question - is it even true? We've seen so many claims in the crypto space that are just taken as true at face value and they turn out to just be lies.
If I was a crypto company of course I'd want to say i was possibly partnering in the future with a bank- but if I was serious about it i wouldn't announce it in public- it'd hurt my negotiating position.
Not when your desperate to use those banks and reassure your own customers
Oh hell yes, what a great way to cruise through my Friday morning. Thanks guys, but I was curious why I couldn't withdraw my cas coins?
You’ll be able to withdraw once we get a few more ‘donations’
@@CryptoCriticPodjust 3-6 more months till you get that new banking partner!
Why do Crypto Exchanges need banking? The whole goal of the Crypto Movement is to eliminate the current banking system due to the 2008 financial crisis. Remember?
Because the purpose of an exchange is to facilitate trades, often explicitly people who want to convert their fiat into crypto, and so banks need a way to manage the fiat portion of that
Not everyone wants to mine all their cryptocurrency or do peer-to-peer trades.
@@CryptoCriticPod Sorry Bennett and Cas, it was actually more a snarky comment then a question.
Wow! This is the first time I have heard Sam Bankman Fried use the excuse that they didn't have a bank! Thanks for that!
They should just make the exchanges register as what they are -Casinos, and tax the profits as what they obviously are - Gambling Winnings.
The SEC hasn’t been having much luck with these lawsuits. Honestly it would be nice to have someone who’s not asleep behind the wheel and finds out there’s a problem when and files for bankruptcy. The point of the SEC is to find the bad apples before the entire infrastructure burns to the ground.
The SEC stopped following its own rules and starting following the rules of select private interests like 2 and a half decades ago.
Every system is so fully fraudulent that only the justice department has a chance at changing anything, and I’d say slim to 0 chance that happens.
You aren’t investing, You’re being harvested.
Wait, are you saying is that CasCoin Bank is a 501c3? Contributions to it are tax deductible? Excellent! [\s]
What do I do if my Cas Coin gets seized? Asking for a friend 😢
Talk to Burrito
Can we talk to Burrito even if we don't have any CasCoin?@@CryptoCriticPod
"Moonstone"? Aw man the Moon never asked for any of this. Leave the Moon alone, Crypto/FinTech/Disruptor Bros!!
Could you guys please do a video on Sam Bankman Fried's insurance fund, which was purportedly fraudulent?
Caroline Ellison Describes Sam Bankman-Fried's Crimes (feat. Nikhilesh De) - Episode 135
th-cam.com/video/i4HUeH_r7w8/w-d-xo.html
@@CryptoCriticPod Thanks! I'll listen. You guys are definitely providing details that most other You Tubers aren't.
I like how it looks like cas is streaming in his bathroom 🤘
Crypto should full tilt into defi.
Ah yes “defi”
so i guess crypto needs banking, I thought that was the whole reasoning behind crypto in the first place? is that not the case?
NEW STUFF!!!! YAY!!!!!!