Custodia Bank CEO Caitlin Long revealed her take on the lawsuit against the Federal Reserve Board, which is seen as the most important lawsuit in the crypto industry. She also gave her prediction on when Bitcoin price is going to rally as it remained range-bound after hitting a new all-time high.

Custodia Bank CEO On Lawsuit Against Fed

Caitlin Long, CEO of Custodia Bank, and Michelle Kallen, Appeals Attorney for Custodia, in a discussion with lawyer James Murphy on CryptoLawTV pointed out the recent development in the Custodia Bank lawsuit against the Federal Reserve Board.

Long claims the Fed and OCC have been unjustified against Custodia Bank for a master account. She said that the Fed hasn’t adhered to the law and denied a master account requested earlier. Custodia is a Wyoming-chartered special-purpose depository institution, which she claims is enough for receiving one of the master accounts. She also slams Senator Elizabeth Warren for continuing to debank crypto, with Operation Choke Point 2.0 still active in the Fed and bank regulator, she said.

Kallen said states and federal entities shared the role of governing the banking system as per the Supreme Court. Custodia Bank’s receiving a master account will be a big win for not only crypto, but also relevant for other entities trying to get a master account.

Also Read: Binance To Delist Shiba Inu, Chainlink, Memecoin, & 4 Other Crypto, Prices To Dip?

Bitcoin Price Prediction

Caitlin Long has made significant accurate predictions such as stablecoins having hundreds of billions of market cap and Wall Street to financialize Bitcoin. She also predicted that Bitcoin will see the biggest short squeeze in human history after Wall Street’s adoption of Bitcoin.

In a new prediction, Long predicts a “rip roaring” bull Bitcoin market before the U.S. presidential election, with fundamentals still looking strong despite the dip in price now. She added that BTC price had always dropped after every Bitcoin halving due to a shakeout in miners who couldn’t afford to stay in business and liquidated their BTC holdings. She believes Bitcoin price will rally massively in October.

BTC price currently trades at $61,472, up 1%. Institutional investors and whales have bought the dip, but trading volumes dropped 35% in the last 24 hours. Spot BTC ETF saw first inflow after more than a week, with $31 million in net inflow.

Also Read: Ripple Vs SEC News – Ripple President Clears the Air on Lawsuit and XRP ETF

The post Custodia Bank CEO Predicts “Rip Roaring” Bitcoin Bull Market, Slams Warren Wing appeared first on CoinGape.

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Filed under: News - @ June 26, 2024 1:23 pm