Gene A. Grant II

307 posts

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Gene A. Grant II

Gene A. Grant II

@Genegr2

Former LevelField Financial CEO. Opinions expressed are my own, and not necessarily those of my employer.

Houston, Texas Katılım Mayıs 2010
279 Takip Edilen450 Takipçiler
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Gene A. Grant II
Gene A. Grant II@Genegr2·
bloomberg.com/news/articles/… LevelField Bank is approved! The bank will serve consumer and business customers in the bitcoin and digital asset communities, as well as businesses in other underbanked industries. LevelField Bank fully supports digital assets, and whether our customers want to buy/sell/hold/borrow, we will meet their needs through BTC-backed loans, custody, trading, and regular bank accounts.
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Trent Martensen
Trent Martensen@trentmartensen·
For those who have not yet seen, I am excited to have acted as Advisor, alongside Chris McMillan, to LevelField Financial’s acquisition of Burling Bank. @Genegr2 excited to see what comes next. For those wanting to know more, find the Bloomberg article bloomberg.com/news/articles/…
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Gene A. Grant II
Gene A. Grant II@Genegr2·
prnewswire.com/news-releases/… More detail on the LevelField Bank approval in our press release. The bank will serve consumer and business customers across the USA. LevelField Bank will be a subsidiary of LevelField Financial
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OCC
OCC@USOCC·
There is currently no standard definition of the term “unsafe or unsound practice,” resulting in enforcement actions & supervisory criticisms not related to material financial risks. Read proposed rule to clarify enforcement & supervision standards. occ.gov/news-issuances…
OCC tweet media
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Gene A. Grant II
Gene A. Grant II@Genegr2·
@tyler @Gemini Have you considered owning part of a bank yourself? LevelField is on the cusp of approval to acquire a full-service FDIC insured bank and specialize in crypto clients. Happy to talk.
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Tyler Winklevoss
Tyler Winklevoss@tyler·
My tweet from last week struck a nerve. This week, JPMorgan told us that because of it they were pausing their re-onboarding of @Gemini as a customer after they off-boarded us during Operation ChokePoint 2.0. They want us to stay silent while they quietly try to take away your right to access YOUR banking data for free through third-party fintechs like @Plaid. Sorry Jamie Dimon, we're not going to stay silent. We will continue to call out this anti-competitive, rent-seeking behavior and immoral attempt to bankrupt fintech and crypto companies. We will never stop fighting for what is right! 🇺🇸
Tyler Winklevoss@tyler

JPMorgan and the banksters are trying to kill fintech and crypto companies. They want to take away your right to access your banking data for FREE via-third party apps like @Plaid and instead charge you and fintechs exorbitant fees to access YOUR DATA. This will bankrupt fintechs that help you link your bank accounts to crypto companies like @Gemini, @coinbase, and @krakenfx so you can easily fund your account w/ fiat to buy bitcoin and crypto. As of today, the "Open Banking Rule" developed pursuant to Section 1033 of the Consumer Financial Protection Act gives you the right to access you banking data via 3rd party apps. The banksters are suing the CFPB to vacate the Open Banking Rule and end the open banking era. This is the kind of egregious regulatory capture that kills innovation, hurts the American consumer, and is bad for America. Jamie Dimon and his cronies are trying to undercut President Trump's mandate to make America the pro innovation and the crypto capital of the world. We must fight back! 🇺🇸

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Gene A. Grant II
Gene A. Grant II@Genegr2·
If Fed Funds drops to 1%, what happens to all the non-bank "neobanks" who rely on interest on deposits from their partner banks? Business model implodes?
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Gene A. Grant II
Gene A. Grant II@Genegr2·
Great to see the OCC leading the way with financial innovation. I do note, however, they do have a stipulation: "safe, sound and fair manner". The words "Safe and Sound" are standard requirements for the provision of banking services. The inclusion of "Fair" is significant.
OCC@USOCC

The federal banking system is well positioned to engage in digital asset activities. OCC Interpretive Letters 1183 and 1184 clarify and confirm national banks may engage in certain crypto-asset activities, provided they do so in a safe, sound and fair manner.

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Trent Martensen
Trent Martensen@trentmartensen·
My first blog post is out speaking to the nature of different demand patterns on Wall Street and how it applies to our trusts. I may be biased, but I think it is a worthy read. permuto.capital/one-persons-tr…
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Gene A. Grant II
Gene A. Grant II@Genegr2·
Banks may soon own cryptocurrency. The idea of traditional banks holding digital assets was inconceivable a few months ago, but times are changing. forbes.com/sites/digital-…
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Gene A. Grant II
Gene A. Grant II@Genegr2·
I revised my article about the OCC authorizing national banks to offer cryptocurrency services. I wanted to highlight that the OCC has also rescinded the directive barring banks from holding cryptocurrencies directly. forbes.com/sites/digital-…
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Gene A. Grant II
Gene A. Grant II@Genegr2·
Banks still cannot hold cryptocurrency for their own accounts. The OCC Interpretive Letter 1183 on Friday was a great start, but no celebration until the Jan. 3, 2023 prohibition is removed. federalreserve.gov/newsevents/pre…
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Gene A. Grant II
Gene A. Grant II@Genegr2·
occ.treas.gov/news-issuances… The OCC has withdrawn 1179 (pre-permission). More importantly, the OCC has reaffirmed letter 1170 -- stating it is permissible for banks to engage in custody and custody related services.
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Keşfet

@jerallaire @tyler @Gemini @Plaid @permutocapital @Forbes @LevelfieldEx @elonmusk