This episode is sponsored by Nexo.io, NEAR and FTX US. 

 

There is a growing appetite among crypto companies to avail themselves of the legal system to fight for what they believe. This week, Custodia Bank (formerly Avanti), run by Caitlin Long, filed suit against the Federal Reserve for failing to process the bank’s master account application. Grayscale, meanwhile, has hired President Obama’s former Solicitor General, Neal Katyal, to have legal resources to mount a challenge depending on the results of their application to convert the Grayscale Bitcoin Trust into an exchange-traded fund. 

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NEAR is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at NEAR.org.

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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Vasil Dimitrov/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.