{"id":54144,"date":"2025-10-22T08:48:52","date_gmt":"2025-10-22T08:48:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=54144"},"modified":"2025-10-22T08:48:52","modified_gmt":"2025-10-22T08:48:52","slug":"fed-to-open-door-to-crypto-banking-in-trumps-revenge","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=54144","title":{"rendered":"Fed to Open Door to Crypto Banking in \u2018Trump\u2019s Revenge\u2019"},"content":{"rendered":"
\n

Federal Reserve Governor Chris Waller announced the central bank is proposing a new type of limited-access master account for all eligible institutions to receive direct access to the Fed\u2019s payment rails.<\/p>\n

The announcement was made at the Federal Reserve\u2019s Payment Innovation Conference on Oct. 21.<\/p>\n

The new \u201cskinny master account\u201d system would enable crypto-banks and major exchanges direct access to Fed payment systems without requiring partner banks.<\/p>\n

\u201cThe Fed is quickly moving to destroy commercial banking in the US,\u201d said<\/a> outspoken BitMEX co-founder Arthur Hayes.<\/p>\n

\n

\u201cThis is Trump\u2019s revenge for debanking his family.\u201d<\/p>\n<\/blockquote>\n

More Leeway For Crypto Companies<\/h2>\n

Under the new system, any legally eligible institution could obtain one under existing legal requirements, which would open doors for fintechs, stablecoin issuers, and crypto companies to access Fed services directly, explained<\/a> Crypto in America host Eleanor Terrett.<\/p>\n

\n

\u201cThis is a big deal for companies like Custodia Bank and Kraken, which have spent years trying to get a Fed master account, with Custodia even taking the Fed to court.\u201d<\/p>\n<\/blockquote>\n

It could also speed access<\/a> for companies like Ripple and Anchorage, which applied this year, she added.<\/p>\n

Banks are \u201cprobably not thrilled\u201d about Governor Waller\u2019s speech this morning, said senior research fellow David Beckworth.<\/p>\n

\u201cIt\u2019s more than hope,\u201d replied Custodia Bank CEO Caitlin Long, who added that \u201cit\u2019s a fast way for banks to future-proof their businesses by bringing bank-grade tokenization infrastructure in an efficient way.\u201d<\/p>\n

\n

WHAT IF A TOKENIZED DOLLAR could change its stripes from a tokenized bank deposit (TD) to a #stablecoin<\/a> & back & forth, as it moves between holders? What if a bank could deliver wallets & custody directly into the core of the banking system, targeting not just the $291bn\u2026 pic.twitter.com\/ywE9jEVM3n<\/a><\/p>\n

\u2014 Caitlin Long \"\ud83d\udd11\"\"\u26a1\"\"\ud83d\udfe0\" (@CaitlinLong_) October 20, 2025<\/a><\/p>\n<\/blockquote>\n