Caitlin Long: Why Avanti Will Be a New Kind of Crypto Bank Unchained

Caitlin Long, founder and CEO of Avanti Financial Group, talks about the issues plaguing the current state of technology in traditional finance and how her background as a 22-year Wall Street veteran, gubernatorial appointee to the Wyoming Blockchain Task Force, and crypto pioneer is helping her shape Avanti into a bridge between conventional banking and crypto. Tune in to hear Caitlin discuss:
the current state of crypto adoption on Wall Street (1:09)
how her entrepreneurial spirit galvanized a career spanning Wall Street, the Wyoming Legislature, and, now, crypto banking (2:07)
why Caitlin fell in love with Bitcoin (4:57)
fractional reserves and why the current financial system is a “violation of property rights” (7:00)
how stablecoin technology will change banking leverage and what effects faster settlement times will have on inflation (11:30)
why corporate treasurers have been using BTC since 2014 in foreign exchange transactions (17:14)
what issues Wyoming is trying to solve through crypto legislation and why banks might be closing down customer accounts linked to crypto exchanges (19:18)
a proposed Wyoming bill that would prohibit judges from disclosing private cryptographic keys (28:32)
where the idea for Avanti came from and how it will be different than other banks (32:50)
existing problems with stablecoin regulation and a deep-dive into GAAP accounting for crypto (46:51)
why Wall Street’s accounting system is to blame for the GameStop and Robinhood situation (52:32)
whether or not a blockchain could work for settling securities (52:32)
her thoughts on pension funds and endowments directly owning crypto (59:54)
what it is going to take for Avanti to successfully bridge the gap between traditional finance and crypto (1:02:38)
 
Thank you to our sponsors! 
Crypto.com: https://bit.ly/3jzkTAD
Download the Crypto.com app here: https://crypto.onelink.me/J9Lg/laurashinpodcasttesla
 
Square: http://square.com/go/unchained
 
Episode links: 
Caitlin Long
Twitter: https://twitter.com/CaitlinLong_ 
Personal website: https://caitlin-long.com/ 
CoinDesk profile: https://www.coindesk.com/most-influential/2019/caitlin-long 
 
Avanti
Website:  https://avantibank.com/ 
Twitter announcement: https://twitter.com/CaitlinLong_/status/1231958552790482950 
Avit: https://www.coindesk.com/unpacking-the-avit-avanti-banks-new-digital-asset-being-built-with-blockstream 
Banking charter: https://www.forbes.com/sites/michaeldelcastillo/2020/10/28/avanti-unanimously-wins-bitcoin-banking-charter/?sh=50db610816aa 
Wyoming and blockchain: https://www.coindesk.com/haven-blockchain-case-wyoming
GAAP accounting and crypto: https://twitter.com/CaitlinLong_/status/1356759511856410624 
Trust charter vs. SPDI: https://twitter.com/CaitlinLong_/status/1349850451374587907 
Special purpose depository institutions: https://twitter.com/CaitlinLong_/status/1194022779730968577 
Bailment: https://www.forbes.com/sites/andreatinianow/2019/03/07/a-split-emerges-in-blockchain-law-wyomings-approach-versus-the-supplemental-act/?sh=49635109719a 
Caitlin on GameStop:
https://www.coindesk.com/first-mover-crypto-gamestop-bitcoin-dogecoin 
 
Previous Episodes
 
On How 'Utility Tokens' Are Now Legal in Wyoming, 2018
Why the ICE/BAKKT News Makes Some Crypto Investors Nervous, 2018
How Avanti Will Be a 'Not Your Keys, Not Your Coins' Bank, Feb 2020
Learn more about your ad choices. Visit megaphone.fm/adchoices