Shows
Coffee & Crypto with Lee & JimmieMarch 24th, 2025 Lee and Jimmie discuss Lee’s recent appearance at the SEC’s Crypto Task Force Roundtable, Fidelity’s new tokenized money market fund, new OCC guidance clarifying banks ability to engage in digital asset activity, new SEC statement on proof-of-work mining, and the President promoting $TRUMP on Truth Social. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links SEC.gov | How We Got Here and How We Get Out – Defining Security Status SEC crypto roundtable begins work of regulatory overhaul https://www.youtube.com/live/du4H9...2025-03-2434 minCoffee & Crypto with Lee & JimmieMarch 10th, 2025 Lee and Jimmie discuss a new Strategic Bitcoin Reserve and Digital Asset Stockpile, the potential repeal of the DeFi tax reporting rule, Tether vs. Circle, and the SEC’s declaration that meme coins are not securities. Lee's X: @leereiners Jimmie's X: @jimmie_lenz Related Links Trump Faces Blowback Over Plans for Crypto Reserve - The New York Times Senate Votes to Repeal Biden-Era Crypto Tax Rule - WSJ https://www.wsj.com/finance/currencies/who-is-giancarlo-devasini-tether-jeremy-allaire-circle-90a408b9?mod=hp_lead_pos7 SEC.gov | Staff Statement on...2025-03-1031 minCoffee & Crypto with Lee & JimmieFebruary 27th, 2025Lee and Jimmie discuss North Korea’s hack of Bybit, the SEC’s dismissal of its case against Coinbase, problems with how the US Marshals service handles crypto, BoA CEO announcing plans to issue a stablecoin, Charles Schwab’s new head of digital assets, and ESG investing in the UK. Lee’s X: @jimmie_lenz Jimmie’s X: @jimmie_lenz Related Links https://www.chainalysis.com/blog/bybit-exchange-hack-february-2025-crypto-security-dprk/ Why the SEC’s Dismissal of the Coinbase Case Is a Total Win for Crypto - Unchained https://www.coindesk.c...2025-02-2739 minCoffee & Crypto with Lee & JimmieFebruary 21st, 2025Lee and Jimmie discuss the SEC's new Cyber and Emerging Technologies Unit, the death of the SEC's dealer rule, the SEC's request for a delay in the Coinbase case, Argentina's president and meme coins, and Brian Quintenz's nomination to head the CFTC. Lee's X: @leereiners Jimmie's X: @jimmie_lenz Related Links SEC.gov | SEC Announces Cyber and Emerging Technologies Unit to Protect Retail Investors U.S. SEC Backs Off Crypto Dealer Fight, Continues Resetting Industry Approach SEC Seeks Coinbase Appeal Delay Pending Crypto Regulatory Review A...2025-02-2134 minCoffee & Crypto with Lee & JimmieFebruary 15th, 2025 Lee and Jimmie recap Digital Assets at Duke 2025 before discussing the fate of Trump’s Crypto Council, an update in the SEC Twitter account hack, a pause in SEC v. Binance, and Governor Waller’s speech on stablecoins. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links Trump Is Having Second Thoughts About His Crypto Council - Unchained Man Behind Fake SEC Bitcoin ETF Post Pleads Guilty - WSJ SEC Stays Binance Case Amid Other Crypto Case Extensions - Law360 Speech by Governor Waller o...2025-02-1532 minCoffee & Crypto with Lee & JimmieJanuary 31st, 2025 Lee and Jimmie preview next week’s Digital Assets at Duke conference before talking about Larry Fink’s recent comments on tokenization, Appollo’s new tokenized private credit fund, and X partnering with Visa to offer in-app payments. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: https://www.digitalassetsatduke.org/ https://www.reuters.com/technology/kucoin-pleads-guilty-agrees-pay-nearly-300-million-us-crypto-case-2025-01-27/ https://www.cnbc.com/video/2025/01/23/blackrock-ceo-larry-fink-i-want-the-sec-to-rapidly-approve-the-tokenization-of-bonds-and-stocks.html#:~:text=Squawk%20Box-,BlackRock%20CEO%20Larry%20Fink%3A%20I%20want%20the%20SEC%20to%20rapidly,in%20corporate%20America%2C%20and%20more https://www.coindesk.com/busines...2025-01-3131 minCoffee & Crypto with Lee & JimmieJanuary 24th, 2025 Lee and Jimmie discuss President Trump’s digital assets executive order, the SEC’s new crypto task force and rescission of SAB 121, Trump’s new memecoin, and Ethereum’s marketing problem. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Home - Duke Digital Assets Conference Strengthening American Leadership in Digital Financial Technology – The White House SEC.gov | SEC Crypto 2.0: Acting Chairman Uyeda Announces Formation of New Crypto Task Force SEC Withdraws Controversial Crypto Tax Accounting Bulletin $TRUMP Is Already Worth Billions. What...2025-01-2439 minCoffee & Crypto with Lee & JimmieJanuary 17th, 2025 Lee and Jimmie discuss Acting Comptroller Hsu’s outgoing warning on crypto, an OECD report on tokenization, pensions funds diving into crypto, the Third Circuit’s rebuke of the SEC for failing to explain itself, and the role of AI agents in crypto. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links BankThink: National banks must continue exercising caution with cryptocurrencies Pension funds dabble in crypto after massive bitcoin rally U.S. Judges Demand SEC 'Explain Itself' for Rebuffing Coinbase Call for Crypto Rules Tokenisation of assets and distributed ledger technolog...2025-01-1737 minCoffee & Crypto with Lee & JimmieJanuary 10th, 2025 Lee and Jimmie preview the upcoming Digital Assets at Duke conference before discussing “Operation Chokepoint 2.0,” Coinbase’s request for interlocutory appeal being granted, non-crypto companies investing in crypto, and a BTC investor in jail for refusing to turn over his BTC to the IRS. Lee’s X: @leereiners Jimmie’s X: jimmie_lenz Related Links US regulator warned banks on crypto but did not order halt to business | Reuters Coinbase (COIN) Granted Significant Advance in Court Dispute With Gensler's SEC Bitcoin Is Luring More Companies and Their Cash - The...2025-01-1027 minCoffee & Crypto with Lee & JimmieJanuary 3rd, 2025 Lee and Jimmie reflect on President Carter’s legacy, Lee’s op-ed in the WSJ calling for a merger of the SEC and CFTC, Wall Street’s growing interest in tokenization, MiCA’s impact on Tether and opportunities for new stablecoin issuers, and the IRS’ new DeFi broker rule. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Two Agencies That Should Become One - WSJ What Is Tokenization? Wall Street's Latest Favorite Crypto Buzzword - Bloomberg Banks Want In on Tether’s Billions in Stablecoin Profits - Bloomberg USDT Slides by Most S...2025-01-0345 minCoffee & Crypto with Lee & JimmieDecember 27th, 2024 Lee and Jimmie discuss the appointment of Bo Hines to lead President Trump’s “crypto council,” the blowback against Blackrock for suggesting that BTC’s supply could change, the growing problem of trading addiction, the perils of companies investing in crypto, and the threat of quantum computing to crypto’s security. They also discuss America’s declining literacy rates and the joys of reading and writing. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Trump appoints former college football player, GOP House nominee Bo Hines to head crypto council | The Bl...2024-12-2744 minCoffee & Crypto with Lee & JimmieDecember 20th, 2024 Lee and Jimmie discuss the Senate’s scrapped vote to renominate Caroline Cresnshaw, research from the OFR examining the link between crypto exposure and household debt, El Salvador scrapping some crypto priorities as part of new IMF funding package, and a legal dispute between Coinbase & Justin Sun over wrapped BTC. Lee's X: @leereiners Jimmie's X: @jimmielenz Related Links: Senate scraps vote to renominate SEC's Crenshaw following crypto backlash | Fox Business https://www.financialresearch.gov/briefs/files/OFRBrief-24-08-crypto-exposure-and-household-financial-outcomes.pdf El Salvador to Shut or Sell Chivo Cr...2024-12-2037 minCoffee & Crypto with Lee & JimmieDecember 13th, 2024 Lee and Jimmie discuss the selection of Rep. French Hill to chair the House Financial Services Committee, Eric Trump’s UAE promise of the ‘Most Pro-Crypto President’ in history, Circle and Binance’s USDC partnership, delays in Caroline Crenshaw’s SEC nomination, the debate around ‘debanking’, the 5th Circuit’s rescission of OFAC’s Tornado Cash sanctions, and a special recognition for Jimmie. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Rep. French Hill wins powerful House Financial Services gavel Eric Trump Promises the ‘Most Pro-Crypto President’ in History...2024-12-1338 minCoffee & Crypto with Lee & JimmieDecember 6th, 2024 Lee and Jimmie discuss the nomination of Paul Atkins to run the SEC, Bitcoin breaking $100K, proof-of-concept results for the Regulated Settlement Network, a BIS report on faster payment systems vs. CBDC, and Circle becoming the first stablecoin issuer to meet new Canadian Listing Rules Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links Trump Names Paul Atkins as SEC Chair - Bloomberg Bitcoin Price Hits $100,000 for the First Time - WSJ Members of the U.S. Financial Sector Demonstrate Feasibility of Multi-Asset and Cross-Network Sett...2024-12-0636 minCoffee & Crypto with Lee & JimmieNovember 22ndLee and Jimmie discuss Gary Gensler's pending departure from the SEC, a potential crypto czar in the Trump administration, a CFTC advisory committee recommendation on using non-cash tokenized collateral, the launch of liquidity pools to finance freight invoices, the launch of options contracts on BTC ETFs, the sentencing of FTX executive Gary Wang, MicroStrategy's "creative" use of BTC yield, and a federal district court ruling that DAO members are liable under partnership laws. Lee's X: @leereiners Jimmie's X: @jimmie_lenz Related Links Nasdaq Poised to List Spot-Bitcoin ETF Options as Crypto A...2024-11-2231 minCoffee & Crypto with Lee & JimmieNovember 8th, 2024Jimmie and Lee dissect the election results and the impact of a second Trump administration for crypto. They also discuss Florida's plan to invest state pension assets in crypto. Lee's X: @leereiners Jimmie's X: @jimmie_lenz Related Links SEC Crypto Enforcement Slated for Major Rollback Under Trump - Bloomberg Inspired by Trump, Florida Official Eyes State Bitcoin (BTC) Stockpile for Retirees (coindesk.com)2024-11-0828 minCoffee & Crypto with Lee & JimmieNovember 1st, 2024Lee and Jimmie discuss Nishad Singh’s sentencing in FTX case, new data from Pew on crypto ownership and sentiment, the BIS dropping out of a cross-border payments pilot, a new report on rampant wash trading in crypto, and the growth in crypto derivatives trading and platforms. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Nishad Singh, a Top FTX Executive, Is Given No Prison Time After Cooperation - The New York Times On cryptocurrency, 63% of US adults not confident it’s safe, reliable | Pew Research Center BIS Steps Back Fro...2024-11-0137 minCoffee & Crypto with Lee & JimmieOctober 18th, 2024 Lee and Jimmie discuss TD Bank’s record fine for money laundering violations, a new paper on the relationship between money market funds and stablecoins, the launch of Trump’s World Liberty Financial, the Ethereum rollup-centric roadmap, and Vice President Harris’ appeal to crypto-owning black men. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: TD Bank hit with record $3 billion fine over drug cartel money laundering, source says | CNN Business Stablecoins, money market funds and monetary policy (bis.org) Everything About Trump's World Liberty Financial T...2024-10-1830 minCoffee & Crypto with Lee & JimmieSeptember 27th, 2024Lee and Jimmie recap Lee’s testimony on Capitol Hill before discussing a contentious Congressional hearing featuring all five SEC commissioners, Kamala Harris’ supportive statements about digital assets, Caroline Ellison’s prison sentence, and changes to Coinbase’s BTC ETF custody agreement. Related Links: Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=409360 Hester Peirce Critiques SEC’s Approach to Crypto Regulation: https://beincrypto.com/hester-peirce-admits-flaws-in-secs-crypto-crackdown/?utm_source=m6-labs.beehiiv.com&utm_medium=newsletter&utm_campaign=harris-pledges-us-blockchain-dominance-sec-delays-ethereum-etf-ruling-binance-unveils-pre-market-spot-trading-more Kamala Harris says...2024-09-2735 minCoffee & Crypto with Lee & JimmieSeptember 13th, 2024Lee and Jimmie reflect on 9/11 and Circle’s decision to relocate to One World Trade Center before moving on to: SEC commissioner Mark Uyeda’s suggestion that the SEC should create ‘customized’ S-1 forms for digital asset securities, EToro’s settlement with the SEC, Grayscale’s new XRP Trust, and political event contracts. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Circle (USDC) Is Moving Its Headquarters to New York City: https://www.coindesk.com/business/2024/09/12/stablecoin-giant-circle-is-moving-its-headquarters-to-new-york-city/ SEC should create ‘customized’ S-1 forms for digital asset securities: commissi...2024-09-1328 minCoffee & Crypto with Lee & JimmieAugust 9th, 2024Lee and Jimmie discuss this week’s price action, Figure’s new decentralized custody exchange, Ripple’s $125 million civil money penalty, and the rise and fall of a Donald Trump-themed token. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Is Bitcoin Still a Store of Value? https://www.coindesk.com/markets/2024/08/05/is-bitcoin-still-a-store-of-value/?utm_source=securitiesdocket.beehiiv.com&utm_medium=newsletter&utm_campaign=will-jarkesy-hit-the-pcaob-harder-than-the-sec&_bhlid=73309af65d529df9f672117e2431970f81267a93 Figure Markets Launches Exchange with Decentralized Custody and Democratized Prime Brokerage: https://financefeeds.com/figure-markets-launches-exchange-with-decentralized-custody-and-democratized-prime-brokerage/ Rip...2024-08-0927 minCoffee & Crypto with Lee & JimmieAugust 2nd, 2024 Lee and Jimmie discuss the tech industry’s efforts to influence the Harris campaign, a new project in California to put vehicle titles on the blockchain, and the Basel Committee’s recently finalized crypto asset disclosure framework. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Kamala Harris softens Democrats’ stance on crypto, winning over some of its VCs: https://fortune.com/crypto/2024/08/01/kamala-harriss-softens-democrats-stance-on-crypto-winning-over-some-in-silicon-valley/ California DMV Puts 42M Car Titles on the Avalanche Network in Digitization Push: https://www.coindesk.com/business/2024/07/30/california-dmv-puts-42m-car-titles-on-the-avalanche-network-in-digitization-push/?utm_source=securitiesdocket.beehiiv.com...2024-08-0223 minCoffee & Crypto with Lee & JimmieJuly 29th, 2024 Lee and Jimmie discuss Donald Trump’s remarks at Bitcoin 2024, a potential Harris Campaign reset on crypto, Vitalik’s warning on politics, the launch of ETH ETFs, and Coinbase’s plans for a tokenized money market fund. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Trump Backs U.S. Bitcoin Reserve and Says Democrat Win Will Be Disaster for Crypto: 'Every One of You Will Be Gone': https://www.coindesk.com/policy/2024/07/27/if-we-dont-do-it-china-will-trumps-crypto-embrace-tightens-as-he-speaks-at-bitcoin-event-in-nashville/ Kamala Harris campaign seeks ‘reset’ with crypto companies: https://www.ft.com/content/1a4c5066-9cc0-48...2024-07-2935 minCoffee & Crypto with Lee & JimmieJuly 19, 2024Lee and Jimmie discuss the CrowdStrike cyber outage, the impact of JD Vance as VP for crypto, Jamie Dimon changing his tune on crypto, and the imminent launch of ETH ETFs. Plus, Jimmie expresses his frustration with drivers in the South. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Major IT Outage Hits Banks, Airlines, Businesses Worldwide: https://www.wsj.com/tech/microsoft-reports-major-service-outage-affecting-users-worldwide-328a2f40?mod=hp_lead_pos1 Trump picking JD Vance as his VP is a big draw for the Bitcoin crowd at the ballot...2024-07-1930 minCoffee & Crypto with Lee & JimmieJuly 12th, 2024 Lee and Jimmie discuss Duke's new 12-month Master of Engineering in Financial Technology, a recent confab featuring crypto executives and President Biden's senior advisors, the House's failure to override the President's veto of SAB 121 repeal, and Standard Chartered's proposed crypto acquisition. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Duke Engineering Announces a 12-Month Master of Engineering in Financial Technology: https://fintech.meng.duke.edu/news/duke-engineering-announces-12-month-master-engineering-financial-technology Pratt Trailblazers: Jimmie Lenz: https://pratt.duke.edu/news/pratt-trailblazers-jimmie-lenz/ Could th...2024-07-1237 minCoffee & Crypto with Lee & JimmieJune 28th, 2024Lee and Jimmie discuss the sagging price of Bitcoin, the potential for a Solana ETF, a criminal conviction for home invasion robberies to steal crypto, and Robinhood’s purchase of Europe-based crypto exchange Bitstamp. The guys also introduce a new segment called “Past Lenz,” where Jimmie reflects on an episode from his past professional life. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Bitcoin Price (BTC) Falls After U.S. Sends $240M Worth Seized BTC to Coinbase Prime: https://www.coindesk.com/markets/2024/06/26/bitcoin-falls-after-us-sends-240m-worth-of-silk-road-related-btc-to-coinbase/ Man Convicted o...2024-06-2838 minCoffee & Crypto with Lee & JimmieJune 21st, 2024Jimmie and Lee reflect on the U.S. Open at Pinehurst before discussing Tether’s new synthetic dollar backed by gold, a mysterious new anti-Tether publicity campaign, a new paper dissecting stablecoin run risks, and the reemergence of meme coins. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Tether Announces New Synthetic Dollar aUSDT That’s Backed by Gold: https://www.bloomberg.com/news/articles/2024-06-17/tether-announces-a-new-synthetic-dollar-that-is-backed-by-gold 'Next FTX' crypto giant Tether's ties to terrorists, trafficking to be exposed through campaign to take down 'Ponzi scheme...2024-06-2140 minCoffee & Crypto with Lee & JimmieJune 14th, 2024 Lee and Jimmie discuss reports that President Biden’s campaign may accept crypto donations, former President Trump’s posts that Bitcoin should be made in the USA, Coinbase’s State of Crypto report, and results of the 2023 BIS survey on central bank digital currencies and crypto. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Joe Biden may accept cryptocurrency campaign donations through Coinbase: https://qz.com/just-like-trump-the-biden-campaign-may-also-accept-cry-1851537487 Trump Says 'All' Bitcoin Mining Should Be In The US In His Latest Embrace Of Crypto: https://www.forbes.com/sites/r...2024-06-1434 minCoffee & Crypto with Lee & JimmieJune 3rd, 2024 Lee and Jimmie discuss SEC Commissioner Hester Peirce’s recommendation for the SEC to join the UK’s ‘Blockchain Sandbox,’ President Biden’s veto of SAB 121 repeal, benefits and risks of EigenLayer and restaking, and PayPal’s recent moves to increase adoption of their PYUSD stablecoin. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: US Should Join UK in ‘Blockchain Sandbox’ Free of Regulatory Meddling: https://decrypt.co/233170/blockchain-regulatory-sandbox-us-uk-hester-peirce-unikely US lags in financial innovation. Regulatory sandboxes are the answer: https://www.americanbanker.com/opinion/us-lags-in-financial-innovation-regulatory-sandboxes-are-the-answer U.S. President B...2024-06-0339 minCoffee & Crypto with Lee & JimmieMay 24th, 2024 Lee and Jimmie discuss House passage of the FIT Act and an anti-CBDC bill, as well as the SEC’s pending approval of Ether spot ETFS. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: U.S. House Approves Crypto FIT21 Bill With Wave of Democratic Support: https://www.coindesk.com/policy/2024/05/22/us-house-approves-crypto-fit21-bill-with-wave-of-democratic-support/ Crypto's 'huge moment' scrambling US politics: https://www.politico.com/news/2024/05/23/crypto-2024-election-impact-00159506 Statement of Administration Policy on the FIT Act: https://www.whitehouse.gov/wp-content/uploads/2024/05/SAP-HR4763.pdf Gar...2024-05-2425 minCoffee & Crypto with Lee & JimmieMay 17th, 2024Lee and Jimmie discuss the U.S. Senate’s vote to repeal SEC Staff Accounting Bulletin No. 121, a pending floor vote in the House on the FIT Act, and novel criminal charges related to frontrunning on Ethereum. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: U.S. Senate Votes to Kill SEC's Crypto Accounting Policy, Testing Biden's Veto Threat: https://www.coindesk.com/policy/2024/05/16/us-senate-votes-to-kill-secs-crypto-accounting-policy-testing-bidens-veto-threat/ House to Consider Financial Innovation and Technology for the 21st Century Act: https://financialservices.house.gov/news/documentsingle.aspx?Document...2024-05-1732 minCoffee & Crypto with Lee & JimmieMay 9th, 2024Lee and Jimmie discuss CZ’s sentence, news that FTX creditors will be made whole, Robinhood’s crypto-related Wells Notice, disagreements over stablecoin transaction volume, and Blackrock’s investment in Securitize. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links How 'Good Guy' Reputation Secured Binance's CZ a 4-Month Prison Sentence: https://www.coindesk.com/business/2024/04/30/how-czs-good-guy-reputation-secured-4-month-prison-sentence/?utm_source=securitiesdocket.beehiiv.com&utm_medium=newsletter&utm_campaign=binance-s-cz-sentenced-to-four-months-in-prison FTX Has Billions More Than It Needs to Repay Its More Than Two Million Customers: https://www.bloomberg.com/news/a...2024-05-0937 minCoffee & Crypto with Lee & JimmieApril 26th, 2024Lee and Jimmie discuss Consensys’ preemptive lawsuit against the SEC, the resignation of two SEC lawyers involved in the Debt Box case, Stripe’s integration of USDC, and criminal charges against the founders of Samourai Wallet. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links SEC sued over Ethereum, crypto firm asks court to state token is not a security: https://fortune.com/crypto/2024/04/25/sec-sued-over-ethereum-crypto-firm-asks-court-to-state-token-is-not-a-security/ Two SEC Lawyers Resign After Agency Censured for Abuse of Power in Crypto Case: https://finance.yahoo.com/news/two-sec-lawyers-resign-agency-172240276.html?guccounter=1 ...2024-04-2630 minCoffee & Crypto with Lee & JimmieApril 19th, 2024 Lee and Jimmie discuss a new Senate stablecoin bill, the impact of Bitcoin’s halving on miners, a Mango Markets conviction, Uniswap’s Wells Notice, and the BoE’s tokenization project. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links Lummis, Gillibrand Introduce Bipartisan Landmark Legislation To Create Regulatory Framework For Stablecoins: https://www.gillibrand.senate.gov/news/press/release/lummis-gillibrand-introduce-bipartisan-landmark-legislation-to-create-regulatory-framework-for-stablecoins/ Bitcoin’s Halving Is Coming. Miners Are Looking for New Ways to Make Money: https://www.wsj.com/finance/currencies/bitcoin-halving-btc-miners-money-919e9276?page=1 Mango Markets Expl...2024-04-1940 minCoffee & Crypto with Lee & JimmieApril 12th, 2024 Lee and Jimmie discuss Circle’s new smart contract for BlackRock’s BUIDL, a central bank tokenization pilot project, Deputy Treasury Secretary Wally Adeyemo’s Senate testimony on illicit finance, and Coinbase securing a restricted dealer license in Canada. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Circle Announces USDC Smart Contract for Transfers by BlackRock’s BUIDL Fund Investors: https://www.businesswire.com/news/home/20240411966052/en/Circle-Announces-USDC-Smart-Contract-for-Transfers-by-BlackRock BIS and Banks to Test Tokenization of Cross-Border Payments: https://www.bloomberg.com/news/articles/2024...2024-04-1240 minCoffee & Crypto with Lee & JimmieApril 6th, 2024Lee and Jimmie discuss Ripple’s new stablecoin, a new crypto exchange from Figure, Blackrock’s tokenized money market fund, and potential changes to Ethereum’s staking rewards. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Ripple to Issue USD-backed Stablecoin Bringing More Utility and Liquidity to XRP Ledger: https://ripple.com/ripple-press/ripple-to-issue-usd-backed-stablecoin-bringing-more-utility-and-liquidity-to-xrp-ledger/ Crypto Exchange Figure Markets Has a Plan to Democratize Finance: https://www.coindesk.com/business/2024/04/02/crypto-exchange-figure-markets-has-a-plan-to-democratize-finance/ BlackRock Tokenized Fund Draws $160 Million In Week Since Debut: https://www.bloomberg.com/news/art...2024-04-0634 minCoffee & Crypto with Lee & JimmieMarch 29th, 2024Lee and Jimmie discuss SBF’s sentence, recent developments in SEC v. Coinbase, the growth in Coinbase’s layer 2 Base, and the impact of stablecoins on reserve currencies. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: Sam Bankman-Fried is Still Insulting his Victims: https://thehill.com/opinion/criminal-justice/4554840-sam-bankman-fried-refuses-accountability/ Coinbase Loses Most of Motion to Dismiss SEC Lawsuit: https://www.coindesk.com/policy/2024/03/27/coinbase-loses-most-of-motion-to-dismiss-sec-lawsuit/ 3 Reasons Why Layer 2 Network Base Has More Than Doubled Its Total Value Locked This Year: https://unchainedcrypto.com/3-reasons-why-layer-2-network-base-has-more-than-doubled-its-total-value-locked-this-year/2024-03-2941 minCoffee & Crypto with Lee & JimmieMarch 22nd, 2024Lee and Jimmie discuss the SEC potentially classifying ETH as a security, Coinbase’s lawsuit against the SEC, a new independent examiner for FTX’s bankruptcy, and John Ray’s thoughts on SBF’s sentencing memo. Lee’s X: @leereiners Jimmie’s X: @jimmie_lenz Related Links: SEC probing crypto companies in Ethereum investigation as hopes for ETF dim: https://finance.yahoo.com/news/sec-probing-crypto-companies-ethereum-162205426.html Coinbase's Allies Join Crypto Firm's Case Against U.S. SEC: https://www.coindesk.com/policy/2024/03/19/coinbases-allies-join-crypto-firms-case-against-sec/ FTX Probe to Test Whether Law Giant Is...2024-03-2231 minCoffee & Crypto with Lee & JimmieMarch 18th, 2024Lee and Jimmie speculate on the identify of the real Satoshi Nakamoto before discussing Binance employees being detained in Nigeria and the potential for more crypto-related exchange traded products in the UK and US. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Head 2 Head with Dr Jimmie Lenz and Dr Craig S Wright: https://www.youtube.com/live/DIytNJKG8oE?si=z6EPdOOzYh4Q8wVz Craig Wright is not Satoshi: https://www.coindesk.com/policy/2024/03/14/craig-wright-not-satoshi-didnt-author-bitcoin-whitepaper-judge-rules/ New Satoshi emails are evidence for who created Bitcoin...2024-03-1834 minCoffee & Crypto with Lee & JimmieMarch 8th, 2024Lee and Jimmie discuss the perfect gift for that special someone in your life, a significant ruling in the former Coinbase employee insider trading case, Chair Powell’s rejection of CBDC, a Prometheum-fueled debate about Ether’s status, and the SEC’s settlement with Shapeshift. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Binance made crypto perfume in a baffling attempt to woo women: https://techcrunch.com/2024/03/06/binance-crypto-perfume/ How the SEC's Recent Win May Play in Its Coinbase, Binance Cases: https://www.nasdaq.com/articles/how-the-secs-recent-win-may-play-in-its-coinbase-binance-cases#:~:text=A%20fe...2024-03-0834 minCoffee & Crypto with Lee & JimmieMarch 4th, 2024Lee and Jimmie discuss Coinbase’s recent earnings announcement and long-term prospects; SBF’s upcoming sentencing; new crypto hires at the IRS; Gemini Earn customers being made whole; and the Department of Energy scrapping their crypto mining data survey. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links:Coinbase (COIN) shares surge after earnings (cnbc.com): https://www.cnbc.com/2024/02/16/coinbase-coin-share-surge-13percent-after-earnings.html.html Sam Bankman-Fried Makes His Last Stand: https://www.nytimes.com/2024/02/27/technology/sam-bankman-fried-fraud-ftx.html? IRS adds two key experts to focus on cryptocurrency, other digital a...2024-03-0432 minCoffee & Crypto with Lee & JimmieFebruary 23rd, 2024 Lee and Jimmie discuss the failure of Heartland Tri-State Bank because of a pig butchering scam, Circle’s decision to discontinue USDC on the Tron blockchain, and Acting Comptroller Mike Hsu’s warning about crypto supervision. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Material Loss Review of Heartland Tri-State Bank: https://oig.federalreserve.gov/reports/board-material-loss-review-heartland-tri-state-bank-feb2024.pdf Circle is Discontinuing Support for USDC on the TRON Blockchain: https://www.circle.com/blog/circle-is-discontinuing-support-for-usdc-on-the-tron-blockchain Acting Comptroller Michael J. Hsu: Remarks to the Financial Stability Board’s C...2024-02-2335 minCoffee & Crypto with Lee & JimmieFebruary 16, 2024 Lee and Jimmie discuss recent crypto price action, the potential for a ETH ETF, and what AI means for job security. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Gensler won’t commit to Ethereum ETFs, says Bitcoin approval was simply ‘most sustainable thing to do’ after losing in court: https://urldefense.com/v3/__https://fortune.com/crypto/2024/02/14/gensler-ethereum-etfs-bitcoin-court-decision-against-sec/__;!!OToaGQ!sS72vbBLvg8F3XnO267WtsynHzL2l9k4drutKH8DBINFpbUzu3juXXgr-fC-XF6JQs6O5Txk2ftIGLSQw0if$ Head 2 Head with Dr Jimmie Lenz and Dr Craig S Wright: https://www...2024-02-1633 minCoffee & Crypto with Lee & JimmieFebruary 12th, 2024 Lee and Jimmie recap Digital Assets at Duke Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Blockchain Ambitions at Goldman, JPMorgan Target Financial Plumbing: https://www.bloomberg.com/news/newsletters/2024-02-06/blockchain-ambitions-at-goldman-jpmorgan-target-financial-plumbing?srnd=undefined Scaramucci Urges Crypto Fans to Support Biden Despite Crackdown: https://www.bloomberg.com/news/articles/2024-02-02/scaramucci-urges-crypto-fans-to-support-biden-despite-crackdown?srnd=undefined Digital Assets at Duke: https://www.digitalassetsatduke.org/2024-02-1226 minCoffee & Crypto with Lee & JimmieJanuary 19th, 2024 Lee and Jimmie discuss the first week of trading in bitcoin ETFs, oral arguments in Coinbase’s motion to dismiss, the growing use of stablecoins in illicit activities, and the fiery Davos speech by Javier Milei. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Digital Assets at Duke: https://www.digitalassetsatduke.org/ 2024 Crypto Crime Trends: https://www.chainalysis.com/blog/2024-crypto-crime-report-introduction/ Davos 2024: Special address by Javier Milei, President of Argentina: https://www.weforum.org/agenda/2024/01/special-address-by-javier-milei-president-of-argentina/2024-01-1928 minCoffee & Crypto with Lee & JimmieJanuary 12th, 2024Lee and Jimmie discuss the launch of bitcoin spot ETFs and the CFTC's new DeFi report. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: CFTC’s Technology Advisory Committee report on Decentralized Finance: https://www.cftc.gov/media/10106/TAC_DeFiReport010824/download Digital Assets at Duke: https://www.digitalassetsatduke.org/2024-01-1235 minCoffee & Crypto with Lee & JimmieJanuary 5th, 2024 Lee and Jimmie discuss the hoopla surrounding the pending approval of a bitcoin spot ETF, the DoJ’s decision not to charge Sam Bankman-Fried with campaign finance violations, and US District Judge Jed Rakoff’s recent ruling that Terra and its founder, Do Kwon, violated federal laws by offering and selling unregistered securities. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Digital Assets at Duke: https://www.digitalassetsatduke.org/2024-01-0527 minCoffee & Crypto with Lee & JimmieDecember 29th, 2023 Jimmie debriefs his visit to the Middle East for Digital Assets at Duke Abu Dhabi. Lee and Jimmie then preview the upcoming Digital Assets at Duke main conference to be held in Durham, NC January 31-February 2, 2024. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Digital Assets at Duke: https://www.digitalassetsatduke.org/ Global dealmaking drops below $3tn for first time since 2013: Global dealmaking drops below $3tn for first time since 2013 (ft.com)2023-12-2931 minCoffee & Crypto with Lee & JimmieDecember 1st, 2023 Lee and Jimmie discuss the DoJ settlement with Binance, the Treasury Department’s request for additional authority to combat crypto’s use in illicit finance, and the problems with title insurance. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Digital Assets at Duke: https://www.digitalassetsatduke.org/ Binance and CEO Plead Guilty to Federal Charges in $4B Resolution: https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution Treasury Seeks Expanded Sanctions Powers in Digital Space: https://www.bloomberg.com/news/articles/2023-11-29/treasury-seeks-expanded-sanctions-powers-in-digital-space Washi...2023-12-0130 minCoffee & Crypto with Lee & JimmieNovember 17th, 2023 In this Thanksgiving-themed episode, Lee and Jimmie discuss the crypto-related people and organizations they are thankful for. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Digital Assets at Duke: https://www.digitalassetsatduke.org/2023-11-1718 minCoffee & Crypto with Lee & JimmieNovember 10th, 2023Lee and Jimmie discuss the CFPB's new proposal to supervise non-bank digital wallets and payment apps. They also comment on Elon Musk's efforts to turn X into a full service finance app. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: CFPB PRoposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps: https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-new-federal-oversight-of-big-tech-companies-and-other-providers-of-digital-wallets-and-payment-apps/ Elon Musk gives X employees a year to turn app into finance platform: 'You won't need a bank account': https://nypost.com/2...2023-11-1023 minCoffee & Crypto with Lee & JimmieNovember 3rd, 2023 Lee and Jimmie reflect on the Sam Bankman-Fried verdict. The also breakdown the GAO’s finding that SEC Staff Accounting Bulletin 121 is a de-facto rule and the recent crypto regulation plan adopted in the UK. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121: https://www.gao.gov/products/b-334540 UK confirms plans to regulate crypto industry with formal legislation: https://www.cnbc.com/2023/10/30/uk-confirms-plans-to-regulate-crypto-industry-with-formal-legislation.html2023-11-0336 minCoffee & Crypto with Lee & JimmieOctober 27th, 2023 Jimmie recaps his testimony from earlier this week in front of the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion. Lee and Jimmie then discuss JPM Coin and the controversy surrounding the Wall Street Journal’s reporting on Hamas’ use of cryptocurrency. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Hearing Entitled: Modernizing Financial Services Through Innovation and Competition: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408989 JPMorgan Says JPM Coin Now Handles $1 Billion Transactions Daily: https://www.bloomberg.com/news/articles/2023...2023-10-2734 minCoffee & Crypto with Lee & JimmieOctober 20th, 2023 Lee and Jimmie discuss DTCC’s acquisition of Securrency, the prospects for a Bitcoin ETF, and insights from the recent lawsuits against Voyager, Genesis, and Gemini. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: DTCC Signs Definitive Agreement to Acquire Securrency: https://www.dtcc.com/news/2023/october/19/dtcc-signs-definitive-agreement-to-acquire-securrency-inc Digital Assets at Duke: https://www.digitalassetsatduke.org/2023-10-2031 minCoffee & Crypto with Lee & JimmieOctober 13th, 2023 Lee and Jimmie talk about the upcoming Digital Assets at Duke Conference before diving into the latest from the SBF trial and the chaos in the House of Representatives. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Digital Assets at Duke: https://www.digitalassetsatduke.org/2023-10-1335 minCoffee & Crypto with Lee & JimmieSeptember 22nd, 2023 Lee and Jimmie reflect on a new academic year before saying goodbye to NFTs and Mark Cuban’s crypto. They also discuss Sam Bankman-Fried’s impending trial and the role his parents played in the FTX fraud. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Remember when NFTs sold for millions of dollars? 95% of the digital collectibles may now be worthless: https://markets.businessinsider.com/news/currencies/nft-market-crypto-digital-assets-investors-messari-mainnet-currency-tokens-2023-9?utm_source=securitiesdocket.beehiiv.com&utm_medium=newsletter&utm_campaign=the-new-nft-valuation-math-multiply-by-zero Mark Cuban Loses Nearly $1M to Crypto Sc...2023-09-2237 min
The FinReg PodWhat Really Happened at Wells Fargo?Well Fargo was an iconic and respected American Brand. But then, in September 2016, in a settlement with the City of Los Angeles, the OCC, and CFPB, it was revealed that approximately 5,300 Wells Fargo employees had been terminated between 2011 and 2016, for sales practice violations that included opening over two million unauthorized deposit and credit card accounts. Earlier this year, Kevin Wack published a 5-part series in the American Banker that shed new details on the scandal. Kevin came on the show to talk about how the series came together and what his reporting uncovered. He also provides an update on w...2023-09-141h 26The FinReg PodCan Cooperatives Save Web3 and Sports? James Wigginton has thought deeply about economic power and the role cooperatives can play in ensuring Web3 lives up to its stated potential of sharing ownership with users in digital networks. James joins Lee to discuss how cooperatives can be used by Web3 firms to engage with their users, strengthen digital networks, and remain compliant with securities laws. James also talks about the potential for sports fans to own a part of their favorite teams by allowing cooperatives to take minority stakes in teams. Leave questions and comments at lee.reiners@duke.edu Lee’s Twi...2023-08-2856 minThe FinReg PodFixing Carbon Accounting with Emissions Liability Management Alicia Seiger is a lecturer at Stanford Law and the managing director of Stanford’s Sustainable Finance Initiative. And Marc Roston is the founder of investment advisory firm MNR Capital and a senior research scholar at Stanford University’s Steyer-Taylor Center for Energy Policy and Finance. In this episode, Alicia and Marc offer their perspective on the problems with the current method of corporate carbon counting, known as the Greenhouse Gas Protocol. They also break down a new carbon accounting methodology they’ve developed called Emissions Liability Management, or ELM. Leave questions and comments at lee.reiners@duke.edu2023-08-211h 13Coffee & Crypto with Lee & JimmieAugust 10th, 2023 Lee and Jimmie discuss PayPal‘s proposed stablecoin and new guidance issued by the Federal Reserve that applies to bank’s engaged in crypto activity. They also provide an update on key pieces of crypto legislation and crypto litigation. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: PayPal to Issue Dollar-Pegged Crypto Stablecoin Based on Ethereum: https://www.coindesk.com/business/2023/08/07/paypal-to-issue-dollar-pegged-crypto-stablecoin-bloomberg/ SR 23-7: Creation of Novel Activities Supervision Program: https://www.federalreserve.gov/supervisionreg/srletters/SR2307.htm SR 23-8 / CA 23-5: Supervisory Nonobjection Process f...2023-08-103h 04The FinReg PodPayments and the Regulated Liability Network Tony McLaughlin is Managing Director for Emerging Payments & Business Development at Citi Treasury & Trade Solutions. In this episode, Tony offers his thoughts on the latest developments in payments, including stablecoins, central bank digital currency, and FedNow. He also breaks down an exciting new project he’s been working on, called the Regulated Liability Network (RLN). RLN envisions a regulated Financial Market Infrastructure that could deliver an interoperable network of all facets of the sovereign currency system: central bank money, commercial bank money, and e-money (and in the future, regulated stablecoins). Leave questions and comments at lee.reiners@duk...2023-08-031h 32Coffee & Crypto with Lee & JimmieJuly 19th, 2023Lee and Jimmie break down the recent Ripple decision in the Southern District of New York, Blackrock CEO Larry Fink’s positive statements on crypto, and the arrest of former Celsius CEO Alex Mashinsky. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: Reflections on the Ripple Decision: Reflections on the Ripple Decision – The FinReg Blog (duke.edu) THE FUTURE OF GLOBAL MONEY: HOW REAL IS THE CRYPTOCURRENCY THREAT & VALUE? (virtual panel featuring Lee and Alex Mashinsky.) https://youtu.be/FvYA8zvW1G82023-07-1947 minCoffee & Crypto with Lee & JimmieJune 29th, 2023 Lee and Jimmie have fun with a special Independence Day-themed episode. They compare leading figures from the American Revolution to people and organizations in the world of cryptocurrency. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz2023-06-2943 minCoffee & Crypto with Lee & JimmieJune 9th, 2023 Lee and Jimmie break down an epic week in crypto, starting with last week’s release of a comprehensive crypto market structure bill from Republican chairmen of the House Financial Services and Agriculture committees. They then dissect the SEC’s charges against Binance and Coinbase, and the broader implications these charges will have on crypto in the U.S. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao: https://www.sec.gov/news/press-release/2023-101 SEC Charges Coinbase...2023-06-091h 22Coffee & Crypto with Lee & JimmieMay 31st, 2023 Lee and Jimmie debrief last week’s event in Washington D.C. to discuss their proposal for a fintech regulatory sandbox. Then, they discuss prospects for crypto regulation at the federal level before assessing a recently proposed crypto bill in New York. Next, Lee and Jimmie go across the pond for an update on the EU’s Markets in Crypto Assets (MiCA) regulation. They conclude by discussing the recent settlement between the SEC and a former Coinbase employee on insider trading charges. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: ...2023-05-311h 01Coffee & Crypto with Lee & JimmieMay 22nd, 2023 Lee and Jimmie toast the end of another academic year at Duke and discuss what’s in store for the 2023 graduates of Duke’s Masters in FinTech Engineering program. They then reflect on the impact of Bitcoin transaction fees surpassing the block mining reward before previewing their May 23rd event in Washington DC that will highlight their regulatory sandbox proposal. They end by discussing the diminishing outlook for stablecoin legislation and the politicization of central bank digital currency. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links: US lags in financ...2023-05-221h 01Coffee & Crypto with Lee & JimmieMay 4th, 2023Lee and Jimmie discuss their recent op-ed in the American Banker that calls for the creation of a federal regulatory sandbox to promote beneficial innovation in financial services. They then debate the definition of digital asset and why it is so hard to define digital asset and cryptocurrency in law and regulation. Lee gets Jimmie’s thoughts on the role of AI in the classroom and the intersection of AI and crypto. The episode concludes with a preview of next week’s joint hearing on crypto market structure with the House Ag and Financial Services committees. Lee’s Twitte...2023-05-0459 minCoffee & Crypto with Lee & JimmieApril 6th, 2023 Jimmie debriefs his recent trip to Louisville to discuss TruckCoinSwap at the Mid America Trucking Show. Lee and Jimmie then discuss the CFTC’s remarkable complaint against Binance and what the potential fallout may be for the broader crypto market. They also highlight a new 160-page report from Citi on blockchain’s future and what the future of tokenization will look like. They end by discussing new accounting guidance from FASB that recommends companies account for crypto on their balance sheet at fair value. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related L...2023-04-0659 minCoffee & Crypto with Lee & JimmieMarch 23rd, 2023 Lee and Jimmie discuss the demise of Silicon Valley Bank and Signature Bank and the long-term implications of the policy response on risk-taking in the financial system and what it all means for crypto. They also dissect the digital assets section of the recent Council of Economic Advisors Economic Report of the President (Jimme hates it, Lee loves its). They conclude by talking about recent SEC crypto-related enforcement actions, including the SEC Wells Notice to Coinbase. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links Economic Report of the Presi...2023-03-2359 minCoffee & Crypto with Lee & JimmieMarch 10th, 2023Lee and Jimmie debrief Lee's testimony in front of the House Financial Services Committee's newly formed Digital Assets Subcommittee. They also discuss the demise of Silvergate Bank and the news coming out of ETHDenver. Lee’s Twitter: @leereiners Jimmie’s Twitter: @jimmie_lenz Related Links "Coincidence or Coordinated? The Administration’s Attack on the Digital Asset Ecosystem" before the U.S. House Financial Services Committee Subcommittee on Digital Assets, Financial Technology and Inclusion Hearing Entitled: Coincidence or Coordinated? The Administration’s Attack on the Digital Asset Ecosystem | Financial Services Committee...2023-03-1659 minCoffee & Crypto with Lee & JimmieFebruary 23rd, 2023 Lee and Jimmie debrief Lee’s testimony in front of the Senate Banking Committee last week and discuss the prospects for a bipartisan compromise on crypto regulation. They also discuss some of the recent SEC-related crypto enforcement actions and whether or not the SEC’s approach to crypto is outdated (Jimmie says yes, Lee says no). Jimmie then talks about joining TruckCoinSwap as a partner and how the company is working to streamline invoice financing in the trucking sector using blockchain technology. Lee also asks Jimmie for his take on Bitcoin ordinals and if they have staying power. ...2023-02-231h 00Coffee & Crypto with Lee & JimmieFebruary 9th, 2023Lee and Jimmie discuss Lee's upcoming testimony in front of the Senate Banking Committee and debate the optimal structure for crypto regulation in the U.S.2023-02-2357 min
The FinReg PodThe Current and Future State of the US Economy Joe Davis is chief economist at Vanguard as well as the global head of Vanguard Investment Strategy Group. In this episode, Joe offers his thoughts on what’s driving inflation, how the Federal Reserve is likely to respond at their upcoming policy meeting and beyond, and how investors can insulate their portfolio from inflations pernicious effects. Joe and Lee also reflect on key lessons learned from the last 15 years of economic policymaking. Lee’s Twitter: @leereiners GFMC Twitter: @DukeGFMC Related Links *Ukraine and the Changing Market...2022-03-1257 min
The FinReg PodBreaking Down the Crypto Executive OrderAri Redbord is the head of legal and government affairs for the blockchain intelligence firm, TRM Labs. Prior to joining TRM Labs, Ari held public sector roles involving cryptocurrency and national security at the Department of Justice and U.S. Department of the Treasury. In this episode, Ari and Lee break down President Biden’s executive order on cryptocurrency. Ari Redbord’s Twitter: @ARedbord TRM Labs Twitter: @TRMLabs Lee’s Twitter: @leereiners GFMC Twitter: @DukeGFMC Related Links *Executive Order on Ensuring Responsible Development of Digital Assets* https://www.whit...2022-03-1032 min
The FinReg PodThe Problem with Carbon OffsetsBarbara Haya directs the Berkeley Carbon Trading Project. Barbara joins Lee to explain what carbon offsets are and the considerations that must be addressed to ensure that offset credits entering into commerce reflect real, verifiable reductions in greenhouse gas emissions. Specifically, Barbara details why most offset programs issue more credits than they should, and recent policy efforts to bring greater integrity to the voluntary offset market. Barbara’s Twitter: @Barbara_Haya GFMC’s Twitter: @DukeGFMC Lee’s Twitter: @leereiners Related Links: *POLICY BRIEF: The Califo...2022-03-0246 min
The FinReg PodA Fresh Look at Bank MergersJeremy Kress is Assistant Professor of Business Law at Michigan Ross and Co-Faculty Director of the University of Michigan’s Center on Finance, Law & Policy. Jeremy joins Lee to discuss how policymakers’ long-standing approach to bank antitrust—premised on consumer welfare—has reduced the cost and availability of basic financial services and ignores numerous non-price harms stemming from bank consolidation. Jeremy details how the Chicago school of antitrust and its focus on consumer welfare came to dominate bank merger review, the impact of fintech on bank competition, and recent policy actions that foreshadow a more stringent review of bank mergers...2022-02-221h 14
The FinReg PodBeware the Crypto MayorMike Bloomberg is the Public Infrastructure Fellow at the NewCities Foundation and a Visiting Researcher with the Urban Tech Hub at Cornell Tech. In this episode, he examines the dark side of U.S. cities embracing cryptocurrency. Mike and Lee discuss how MiamiCoin and NYC Coin actually work, the nebulous legal relationship between these coins and the cities of Miami and New York, and why anyone would bother purchasing or mining these coins. They also discuss the legal and regulatory risks mayors are taking on by embracing crypto. Mike’s Twitter: @BloombergME G...2022-02-1449 min
The FinReg PodGet to Know the PCAOBJay Brown and Kathleen Hamm are former board members of the Public Company Accounting Oversight Board, or PCAOB. Jay and Kathleen join Lee to discuss the origins of the PCAOB and the ongoing challenges the agency faces. Specifically, they discuss the role of auditors in overseeing non-financial reporting such as ESG disclosure, the difficulty in getting US-listed Chinese companies to comply with American auditing standards, and whether PCAOB standards adequately reflect the risks of a cyber incident at issuers or at the auditors themselves. Jay’s Profile: https://www.law.du.edu/about/people/j-robert-brown-jr 2022-02-081h 16
The FinReg PodIs the Stock Market Rigged?Liam Vaughan is a senior reporter with Bloomberg and Businessweek magazine in London. His article, ‘Most Americans Today Believe the Stock Market Is Rigged, and They’re Right,’ appeared on the October 4th cover of Bloomberg Businessweek. Liam is a returning guest to the podcast and joins Lee to discuss his new article that examines the disturbing behavior of US corporate executives that trade their companies’ stocks. Liam’s Twitter: @liamvaughanBBG Related Links * Most Americans Today Believe the Stock Market Is Rigged, and They’re Right’: Is Stock Market Rigged? Insider...2021-10-1245 min
The FinReg PodThe Archegos Implosion: Can A Family Office Threaten Financial Stability?Investor Bill Hwang set off a storm in the stock market in March when his firm, Archegos Capital Management, and its banks, began liquidating huge positions in blue-chip companies that left their counterparties with $10bn in losses. In this episode, Duke Law professors Gina-Gail Fletcher, Elisabeth de Fontenay, Jim Cox, Lee Reiners, and Lawrence Baxter explain why Archegos failed, who got hurt, and what should be done about it.2021-05-0745 min
The FinReg PodWhat Happened to WaMu?For 18 years, Kerry Killinger was CEO of Washington Mutual - a lender in the Pacific Northwest that he grew into the sixth largest bank in the country prior to its collapse in September of 2008. Kerry, along with his wife Linda, recently published “Nothing is Too Big to Fail: How the Last Financial Crisis Informs Today.” In this episode, the Killingers discuss why they believe Jamie Dimon and JPMorgan Chase schemed behind the scenes to get the FDIC to seize WaMu, why Treasury Secretary Hank Paulson wanted to eliminate the thrift industry, and what post-crisis assessments of WaMu’s collapse by the...2021-04-151h 15
The FinReg PodAssessing Economic StimulusAt $1.9 trillion dollars, the recently signed American Rescue Plan is the largest spending bill in U.S. history and it provides much needed direct relief to millions of Americans who have been struggling for over a year while Covid-19 wreaked havoc on our health and our economy. In this episode, Vanguard's global chief economist, Joe Davis, talks about the impact certain provisions in the stimulus bill will have on those in need and the broader economy, the potential for inflation to finally rear its head, and what he would like to see included in an upcoming infrastructure package. ...2021-03-2553 min
The FinReg PodThe Rise and Fall of Wells Fargo with Dick KovacevichDick Kovacevich was CEO of Wells Fargo from 1998 until 2007, during which time he built the company into a banking powerhouse. Dick’s relentless focus on selling Wells Fargo’s customers as many products as possible is what made Wells such a widely admired company, but it also sowed the seeds of Wells Fargo's later problems. In this episode Dick discusses his philosophy of banking and the fake account scandal that became national news in 2016 with Lee Reiners and special co-host Patrick Rucker from The Capitol Forum. Notes: 29:11 - Wells Fargo more like Home Depot than Goldma...2020-10-081h 26
The FinReg PodHow Financial Institutions Can Help America HealRodney Hood is the first African-American to lead a federal banking regulatory agency, the National Credit Union Administration-the independent agency that oversees the nation's federally insured credit unions. Since entering the role last year, Chairman Hood has focused on building and reinforcing places that have fallen behind, often in areas where opportunity is limited, like hard-pressed urban neighborhoods and rural communities fighting decline. In this episode, Chairman Hood offers his thoughts on how financial regulators can make inclusion a major priority in the financial industry and what financial institutions can do to promote financial inclusion and opportunities in underserved...2020-07-3159 min
The FinReg PodMinority Depository Institutions and Inclusive LendingJim Sills, CEO and President of M&F Bank in Durham, North Carolina, joins us to discuss the role of Minority Depository Institutions (MDIs), the challenges they are facing during the pandemic, and the opportunities presented by a renewed focus on supporting black owned banks in the wake of George Floyd’s death. M&F Bank was founded in 1907 by a group of nine successful African American businessmen in Durham in a thriving district that came to be known as Black Wall Street. Today, M&F Bank is a $265 million asset state-chartered bank with over 70 employees and serving the fi...2020-07-2746 min
The FinReg PodRevisiting the Flash CrashIn this episode, Liam Vaughan discusses his new book: “Flash Crash: A Trading Savant, a Global Manhunt, and the Most Mysterious Market Crash in History.” The Flash Crash occurred on May 6th, 2010, when the Dow Jones Industrial Average plunged roughly 9% in a matter of minutes only to recover a large part of the loss within half-an-hour. Liam’s book is a fascinating account of how the U.S. government, well after releasing their official report on the causes of the Flash Crash, came to pin much of the blame for that day’s events on a sole trader trading out of hi...2020-07-161h 04
The FinReg PodBreaking Down the Bank Stress TestsOn Thursday, June 25th, the Federal Reserve released the results of its annual bank stress testing exercise. Due to the ongoing pandemic and the economic recession it has caused, there was added attention on this year’s results. In this episode, Greg Gelzinis explains what the stress tests do and do not reveal, and what risks remain to the banking sector. Gregg is a senior policy analyst for Economic Policy at the Center American Progress, where he focuses on financial institutions, financial markets, and consumer finance policy. Resources: Bank Capital and the Coronavirus Cr...2020-06-2954 min
The FinReg PodThe Fiscal Policy Response to COVID-19The coronavirus pandemic has upended American capitalism and forced the federal government to spend unprecedented sums of money to support struggling consumers and businesses. Thus far, Congress has enacted four separate pieces of legislation, costing approximately $2.4 trillion, with many arguing that more is needed to prevent Great Depression levels of unemployment and reduced economic activity. In this episode, Vanguard's global chief economist, Joe Davis, talks about the efficacy of the fiscal policy response to date and what more can, and should, be done. Joe also discussed the Federal Reserve’s actions and his view on negative interest ra...2020-06-1754 min
The FinReg PodStress in America’s Housing Finance SystemThe country’s response to COVID-19 has constrained economic activity, dramatically reducing or eliminating the income of millions of workers. With enactment of the CARES Act, homeowners with Federally-backed mortgage loans (backed or owned by HUD, FHA, VA, USDA, Freddie Mac, or Fannie Mae) are entitled to up to six months of payment forbearance, which may be extended up to a year, upon a simple attestation of financial hardship. In this episode, Ed DeMarco, president of the Housing Policy Council, talks about the current stresses our nation’s housing finance system is facing and the impact the CARES...2020-05-1145 min
The FinReg PodInside the Paycheck Protection ProgramA key feature of the recently passed $2 trillion stimulus package, also known as the CARES act, is the Paycheck Protection Program, which is a Small Business Administration (SBA) fully guaranteed loan program designed to provide a direct incentive for small businesses to keep their workers on the payroll. The program launched April 3rd and has received a lot of attention due to its perceived sloppy rollout and the incredible demand for these loans from America’s struggling small businesses. In this episode, Greg Seward, General Counsel of Wilmington, North Carolina based LiveOak Bank, talks about how the Payc...2020-04-1545 min
The FinReg PodCoronavirus and the Federal ReserveThe coronavirus pandemic has upended American capitalism and forced the Federal Reserve to take drastic steps to keep money flowing throughout the financial system. The Fed has dusted off its 2007-09 financial crisis playbook and expanded it with unprecedented lending facilities that target corporate America directly. What is the purpose of these programs, how do they work, and what tools remain in the Fed’s toolbox to help aid the economy during these unprecedented times? A conversation featuring former Deputy Treasury Secretary and Federal Reserve Board Governor, Sarah Bloom Raskin; Global Financial Markets Center faculty director, Lawrence Baxter, and Gl...2020-04-1158 min
The FinReg PodThe Risks and Benefits of Modern Market StructureTy Gellasch is executive director of Healthy Markets Association, an investor-focused non-profit coalition that was founded on the premise that investors need independent information and analysis of market structure. In this episode, Ty discusses the rise of numerous for-profit securities exchanges, the role of high-frequency trading, and the ability of regulators to understand what’s going on in securities markets at any given moment. Want to contact the show? Reach out at reiners@law.duke.edu Interested in learning more about issues in financial regulation and policy? Check out the Global Financial Markets Center’s blog, ...2020-03-1553 min
The FinReg PodAmerican Bonds: How Credit Markets Shaped a NationSarah Quinn, an Associate Professor of Sociology at the University of Washington, and author of: "American Bonds: How Credit Markets Shaped a Nation," talks about the long history of the US government’s use of credit allocation as a tool of statecraft. Giving us insight into her book, Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, homeownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistr...2020-02-2858 min
The FinReg PodExchange Traded Funds and Financial StabilityRyan Clements, assistant professor at the University of Calgary Law School, discusses his doctoral research on how Exchange Traded Funds may contribute to financial market instability. Ryan acknowledges the fact that ETFs have made the average investor immeasurably better off by providing low-cost diversification, but his research has shed light on what is a classic tragedy of the commons problem, whereby what is rational for individual investors could weaken the market as a whole. Clements also talks about how the growth in ETFs has led to investor herding behavior, and how this may be contributing to market inefficiencies. 2020-01-3058 min
The FinReg PodA View from Basel: Cross-border financial regulation in the post-crisis era Bill Coen, former Secretary General of the Basel Committee on Banking Supervision, discusses his experience on the Basel Committee as he led the effort to develop and define the Committee's strategy with the ultimate objective of reaching consensus on global guidelines, standards, and best practices. As Secretary General and career at the Basel Committee, Bill played an instrumental role in reshaping the regulation of the global financial system, particularly after the global financial crisis. Bill also highlights some of the critiques on the Basel Committee. Want to contact the show? Email reiners@law.duke.edu I...2019-11-2530 min
The FinReg PodThe Impact of Climate Change on Financial StabilityRostin Behnam, Commodity Futures Trading Commission (CFTC) Commissioner, and Sarah Bloom Raskin, former Deputy Treasury Secretary and Federal Reserve Board Governor, speak about the risks that climate change poses to the stability of our financial system. In the US, central bankers and financial regulators have been slow to adopt an understanding of the detrimental impacts of climate change, but Commissioner Behnam is attempting to change that. This episode is a fascinating conversation about a topic that is unfortunately only growing in prominence as we continue to see more and more severe weather events. Want to contact the show? Email reiners@la...2019-11-1346 min
The FinReg PodBen Lawsky on Regulating CryptocurrencyBen Lawsky, CEO of the Lawsky Group and the former New York State Superintendent of Financial Services, talks about his experience creating the New York BitLicense, a first-of-its-kind state licensing regime for the virtual currency industry with The FinReg Pod host, Lee Reiners. Want to contact the show? Email reiners@law.duke.edu Interested in learning more about issues in financial regulation and policy? Check out the Global Financial Markets Center’s blog: https://sites.duke.edu/thefinregblog/ You can learn more about the Global Financial Markets Center by visiting our website: https://law.duke...2019-11-0150 min
The FinReg PodThe Impact of America's Slow Payment System on Income InequalityAaron Klein addresses the costs of America’s slow and antiquated payment system and its contribution to economic inequality with The FinReg Pod host Lee Reiners. Klein is a fellow in Economic Studies and policy director of the Center on Regulation and Markets at the Brookings Institution. He focuses on financial regulation and technology, macroeconomics, and infrastructure finance and policy. For more on this topic, check out these articles written by Aaron Klein: Real-time payments can help combat inequality: https://www.brookings.edu/opinions/real-time-payments-can-help-combat-inequality/ The fastest way to...2019-10-2222 min
The FinReg PodRevisiting the National Mortgage Settlement: part 2Part 2 of Joe Smith talking about his role as court appointed monitor of the National Mortgage Settlement in the wake of the global financial crisis with The FinReg Pod host Reiners. Smith is currently a partner at Poyner Spruill and a fellow at the Global Financial Markets Center. From 2002 to 2012, Joe served as North Carolina Commissioner of Banks, before taking on his role as monitor. A Review and Assessment of the National Mortgage Settlement by Its Monitor by Joseph A. Smith Jr: https://scholarship.law.unc.edu/cgi/viewcontent.cgi?article=1430&context=ncbi 2019-10-0935 min
The FinReg PodRevisiting the National Mortgage Settlement: part 1Part 1 of Joe Smith talking about his role as court appointed monitor of the National Mortgage Settlement in the wake of the global financial crisis with The FinReg Pod host Lee Reiners. Smith is currently a partner at Poyner Spruill and a fellow at the Global Financial Markets Center. From 2002 to 2012, Joe served as North Carolina Commissioner of Banks, before taking on his role as monitor. A Review and Assessment of the National Mortgage Settlement by Its Monitor by Joseph A. Smith Jr.:https://scholarship.law.unc.edu/cgi/viewcontent.cgi?article=1430&context=ncbi 2019-10-0735 min