BlockFi’s Lead Investor Bows Out Amid Regulatory Uncertainty

<p><span style="font-weight: 400;">Today on the Brief:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Robinhood's underperforming IPO and settlement battles </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">MicroStrategy’s continued faith in bitcoin </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Proposed sweeping crypto legislation </span></li> </ul> <p><span style="font-weight: 400;">Robinhood’s underperforming initial public offering came amid settlement after settlement, with the latest coming with the Financial Industry Regulatory Authority (FINRA). Next on the Brief, MicroStrategy’s second-quarter earnings report lays out the company’s intention to buy more bitcoin. Alongside these crypto ups and downs, the regulatory narrative continues: proposed legislation on digital assets covers everything from the Securities and Exchange Commission’s authority over digital securities to U.S. Treasury authority over stablecoins.</span></p> <p><span style="font-weight: 400;">In the main discussion, NLW covers BlockFi’s tumultuous run-ins with regulatory bodies in New Jersey, Alabama and Texas, and most recently, Vermont. BlockFi has been making simultaneous appeals to regulators to address their concerns and to their existing customer base to affirm their accounts will not be affected. </span></p> <p><span style="font-weight: 400;">An unconfirmed report last night, first shared by Eric Newcomer and not able to be confirmed by CoinDesk, claims that a major Wall Street investor has pulled their funding in the midst of the regulatory onslaught. Will BlockFi be the first victim of shifting regulatory winds?</span></p> <div data-pm-slice="1 1 []" data-en-clipboard="true">Enjoying this content?</div> <div> </div> <div>SUBSCRIBE to the Podcast</div> <div>Apple:  <a href= "https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb" rev= "en_rl_none">https://podcasts.apple.com/podcast/id1438693620?a