Aakash GuptaLead source
Bitcoin was invented so you'd never need a bank, and almost 18 years later the biggest crypto company in America just got approved to become one. The real banks spent all year trying to stop it. And the bank Coinbase got isn't even allowed to take your paycheck or lend anybody a dime. Coinbase wanted it anyway, and the reason is the vault. Coinbase is the custodian for more than 80% of what's sitting in America's bitcoin and ether ETFs, including BlackRock's, which is the biggest one out there. It has reported north of $300 billion in custody. All of that has been regulated by New York since 2018. Over the next three years it moves into a new national trust bank overseen by the OCC, the same federal regulator that oversees JPMorgan, with one license that works in all 50 states. The new…Read original on X