Custodia Bank CEO’s Take on Lawsuit Against Federal Reserve Board and Bitcoin Price Prediction
Custodia Bank CEO Caitlin Long Makes Bold Statements on Lawsuit Against Federal Reserve Board and Bitcoin Price Prediction
In a recent interview on CryptoLawTV, Custodia Bank CEO Caitlin Long shared her thoughts on the ongoing lawsuit against the Federal Reserve Board, which has been making waves in the crypto industry. Long, along with Appeals Attorney Michelle Kallen, discussed the recent developments in the lawsuit, highlighting the Fed’s alleged unjust treatment of Custodia Bank in denying a master account.
According to Long, the Fed’s refusal to grant Custodia Bank a master account goes against the law, as the Wyoming-chartered special-purpose depository institution meets the requirements for such an account. She also criticized Senator Elizabeth Warren for her stance on crypto, citing Operation Choke Point 2.0 as a hindrance to the industry.
Kallen emphasized the importance of Custodia Bank receiving a master account, not just for the crypto industry but for other entities seeking similar accounts. She noted that both states and federal entities play a role in governing the banking system, as per the Supreme Court.
In addition to discussing the lawsuit, Long also made a bold prediction on the future of Bitcoin’s price. Despite the current range-bound trading after hitting a new all-time high, Long believes that Bitcoin will experience a “rip roaring” bull market before the U.S. presidential election. She pointed out that BTC price typically drops after halving events, leading to a shakeout of miners, but she anticipates a massive rally in October.
At the time of writing, Bitcoin is trading at $61,472, with institutional investors and whales buying the dip. However, trading volumes have dropped by 35% in the last 24 hours. The spot BTC ETF saw its first inflow in over a week, with $31 million in net inflow.
As the lawsuit against the Federal Reserve Board unfolds and Bitcoin’s price remains in focus, all eyes will be on Custodia Bank CEO Caitlin Long for her insights and predictions in the ever-evolving crypto industry.
