Feb 18, 2023

DC Slammed for Ignoring Crypto Fraud Warnings

Caitlin Long, the CEO of Custodia Bank, has expressed her frustration with regulators and lawmakers in Washington D.C. for their “misguided crackdown” on the crypto sector and ignoring her warnings of major “fraud” allegedly conducted by now-bankrupted entities.

In a Feb. 17 blog post titled, Shame On Washington, DC For Shooting A Messenger Who Warned of Crypto Debacle, Long expressed her disappointment with the government’s approach to crypto regulation, failing to protect investors and alienating good actors in the space. She argued that by pushing risks into the shadows and discouraging good actors from coming forward, the government is only making it easier for fraud to continue.

Long explained that Custodia had been trying to become federally regulated, but had been denied and now disparaged for daring to come through the front door. She also noted that similar sentiments had been expressed by Coinbase CEO Brian Armstrong, who has suggested on multiple occasions that agencies like the Securities and Exchange Commission (SEC) have reacted frostily to his firm’s efforts to maintain a dialogue in good faith.

On Twitter, Long revealed that she had “handed over evidence to law enforcement of probable crimes” committed by an unnamed crypto firm “months before that company imploded and stuck its millions of customers with losses.” Kraken co-founder and CEO Jesse Powell responded to Long’s Twitter thread and corroborated her statements by noting that: “I can’t tell you how infuriating it is to have pointed out massive red flags and obviously illegal activity to regulators only to have them ignore the issues for years.”

The Custodia Bank CEO concluded her blog post by pointing out that the current “calls for a crackdown” are coming from those same policymakers who were “charmed by the fraudsters” and are now “throwing the baby out with the bathwater.”

The web3 space is a rapidly growing sector, and with it comes the need for effective NFT marketing and promotion. Crypto firms are increasingly turning to NFT marketing agencies to help them reach their target audiences and maximize their NFT sales. Twitter NFT marketing is becoming increasingly popular, as it allows crypto firms to easily reach their target audiences and generate more interest in their NFTs.

NFT marketing agencies specialize in helping crypto firms promote their NFTs on social media platforms such as Twitter, as well as providing strategic advice on how to best sell NFTs. They can also help crypto firms create compelling NFT campaigns and develop strategies to maximize their NFT sales.

As the web3 space continues to grow, so too will the need for effective NFT marketing and promotion. Crypto firms that want to stay ahead of the competition and maximize their NFT sales should consider working with a reputable NFT marketing agency. A good NFT marketing agency can help crypto firms create compelling campaigns and develop strategies to effectively promote and sell their NFTs.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.