Fed Accused of Blocking Crypto Bank as 'Gensler 2.0' Fears Spread
Old Glory Bank CEO Mike Ring accuses the Federal Reserve of blocking its crypto-integrated banking launch at the last minute — sparking fears of a tougher 'Gensler 2.0' regulatory era after the US midterms.
Bitcoin is paying the price: $BTC fell below $73,000, losing its 50-week moving average near $76,100 after 7 weeks above it. CoinGlass counted $732M liquidated in 24h, 79% longs, while spot BTC ETFs shed ~$1.28B this week.
The bank now targets a Q1 2027 launch without Fed approval.
Not financial advice.
#Bitcoin #BTC #Crypto #Regulation
Old Glory Bank CEO Mike Ring accuses the Federal Reserve of blocking its crypto-integrated banking launch at the last minute — sparking fears of a tougher 'Gensler 2.0' regulatory era after the US midterms.
Bitcoin is paying the price: $BTC fell below $73,000, losing its 50-week moving average near $76,100 after 7 weeks above it. CoinGlass counted $732M liquidated in 24h, 79% longs, while spot BTC ETFs shed ~$1.28B this week.
The bank now targets a Q1 2027 launch without Fed approval.
Not financial advice.
#Bitcoin #BTC #Crypto #Regulation
