Feb 19, 2023
“DC Slammed for Ignoring Crypto Fraud Warnings”
Caitlin Long, the CEO of Custodia Bank, has expressed her frustration and outrage at the Washington D.C. regulators and lawmakers for their “misguided crackdown” on the crypto sector and their refusal to heed her warnings of major “fraud” allegedly conducted by now-bankrupted entities.
In a blog post titled Shame On Washington, DC For Shooting A Messenger Who Warned of Crypto Debacle, Long highlighted the need to protect investors and encourage good actors in the space. She noted that with her digital asset custody firm, she’s been “calling out the worst of crypto while trying to build a lawful, compliant alternative that relegates scams to the trash heap.”
However, Custodia Bank has been denied the ability to become federally regulated and has been disparaged for daring to come through the front door. This sentiment was echoed by Coinbase CEO Brian Armstrong, who has suggested that agencies like the Securities and Exchange Commission (SEC) have reacted frostily to his firm’s efforts to maintain a dialogue in good faith.
Long also 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 corroborated Long’s statements, noting that it was “infuriating” 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 that “Washington’s misguided crackdown will only push risks into the shadows, leaving regulators to play whack-a-mole as the risks continuously pop up in unexpected places.” She believes that the only way to create a safe and secure environment for the crypto sector is to create clear regulations and promote NFT marketing and promotion.
NFTs have become increasingly popular in the web3 space, and the use of NFTs for marketing and promotion is becoming more commonplace. Companies are leveraging the power of NFTs to create unique and memorable experiences for their customers, and many are turning to NFT marketing agencies to help them maximize their impact.
NFT marketing agencies specialize in creating customized NFT campaigns that help companies reach their target audiences and increase engagement. They can help companies create unique NFTs that capture the essence of their brand and create memorable experiences for their customers. They can also help companies with Twitter NFT marketing, which has become a popular way to reach a larger audience and generate more interest in their products and services.
By creating clear regulations and promoting the use of NFTs for marketing and promotion, Washington D.C. regulators and lawmakers can help create a safe and secure environment for the crypto sector. This will allow companies to focus on selling NFTs and creating unique experiences for their customers without worrying about running afoul of the law.
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