Crypto Clash: Banks vs. Coinbase – The Great Financial Circus
In a Monday memorandum addressed lovingly to the US Office of the Comptroller of the Currency-a bureaucratic beast that approves or kills banking dreams-the ICBA declared a vigorous “strong opposition” to Coinbase’s daring application. Their main concern? The “untested” nature of crypto custody-a term that makes you wonder if they believe the blockchain is some sort of mythical creature hiding in the shadows. Plus, they worry Coinbase might “struggle to turn a profit” during crypto downturns-because, of course, when the market dips, everything must fall apart, including dreams of financial revolution. 💸





