Caitlin Long On Bitcoin’s Banking Future: ‘Policymakers Are Going To Get What They Fear’
By Becca Bratcher          

Caitlin Long, CEO of Custodia Bank, discussed the future of Bitcoin banking and the challenges it faces in an interview. Long, who has a strong background in Wall Street, has been advocating for sound banking practices in the Bitcoin space and bridging the gap between traditional banking and digital assets. She has been fighting for Custodia to become a digital asset bank with a Federal Reserve account, facing opposition from the Federal Reserve in the process.

Long expressed optimism regarding the policy issue and the possibility of Custodia being granted a Fed membership and account. She believes that U.S. policymakers who try to suppress Bitcoin will ultimately get what they fear as Bitcoin continues to grow and become more globally distributed.

When asked about the role of Bitcoin in the global monetary system, Long highlighted the strategic and national security benefits for the United States in maintaining its leadership in this technology. She also emphasized the growing demand for digital currencies and internet-speed payment rails, as demonstrated by the popularity of stablecoins.

Regarding the gender gap in Bitcoin interest and adoption, Long emphasized the importance of closing this gap not just in Bitcoin but also in the broader tech sector. She funded a scholarship for female engineers to encourage women to stay in the engineering field.

Despite Custodia's compliance with regulations, they have faced resistance from banking regulatory establishments due to a disconnect between their fully-reserved deposit concept and traditional banking practices. Long and pioneers like her deserve support for their efforts in pushing boundaries and advancing sound banking practices in the Bitcoin space.

This interview sheds light on Caitlin Long's perspective on Bitcoin's banking future, the challenges it faces in terms of policy and regulation, and the importance of inclusivity and innovation in the industry.

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🤺 Ordinals Infighting

🤺 Ordinals Infighting
By Robert Hall

In an opinion editorial, Robert Hall discusses the division within the Bitcoin community between the "Bitcoin transaction maximalists" and the "Ordinal enjoooyers." The transaction maximalists believe that Bitcoin Layer 1 should focus solely on processing transactions, while the enjoooyers want to experiment with inscribing arbitrary data on Bitcoin's base layer. Hall acknowledges that both sides have valid arguments but raises concerns about the infighting and its potential negative impact on the Bitcoin movement.

Hall expresses sympathy for the transaction maximalists' viewpoint, as higher transaction fees can disproportionately affect users in the global south who rely on Bitcoin for day-to-day transactions. However, he also recognizes that Ordinals, which allow for NFTs on Bitcoin, have brought new developers and increased activity to the network, demonstrating the potential for fees to replace the block subsidy over time.

The tension between the two camps has led to a division within the Bitcoin community, which Hall finds disheartening. He believes that the community should be united in the mission of adopting a Bitcoin standard worldwide and emphasizes the need to present a united front to the public. Hall criticizes the infighting seen on Bitcoin Twitter and at the Bitcoin 2023 conference, suggesting that such behavior undermines the industry's credibility and readiness for wider adoption.

Hall concludes by urging the community to stay focused, presentable, and united in their goal of offering a better alternative to the current financial system. He calls for putting aside differences, abandoning symbolic gestures like wizard hats and laser eyes, and remembering the principles that brought people to Bitcoin in the first place.

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