Caitlin Long boasts a track record fighting for crypto as an emerging asset class at a state and federal regulatory level. She is best known as the founder and CEO of Custodia Bank, which provides a bridge between the world of digital assets and U.S. dollar payments system.
Long is a 22-year veteran of Wall Street who has since become a powerhouse in the blockchain industry. She will be a speaker at Benzinga's Future of Digital Assets on Nov. 14.
Caitlin began her career with Salomon Brothers and held leadership roles at Morgan Stanley and Credit Suisse.
Long discovered Bitcoin BTC/USD in 2012 and she started making waves in crypto.
Between 2016 and 2018, Long jointly spearheaded a blockchain project for delivering market index data to Vanguard. In 2017, after a Wyoming law blocked her from donating appreciated Bitcoin to endow a scholarship for female engineers at the University of Wyoming, Long vowed to fix things in her state.
She helped spearhead a multi-year initiative to make her home state of Wyoming "an oasis for blockchain companies in the U.S." Wyoming has enacted 33 pro-blockchain laws since 2018 and two governors appointed Long to serve on the Wyoming Legislature's Blockchain Task Force/Blockchain Select Committee.
Long most recently brought her fighting spirit to a battle with the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City.
At the end of 2022, Custodia Bank was denied its motion for a default judgment in its ongoing legal battle with the Fed about alleged delays in obtaining a master account from the government organization. In June of 2023, a federal judge denied the Fed's motion to dismiss its lawsuit. Custodia launched in July 2023 when the bank began to accept USD, despite the challenges. Custodia still awaits a Fed master account and is pending final regulatory approval to launch bitcoin custody for institutional investors.
On Aug. 11, 2023, Custodia announced on its X account: "A new breed of bank has arrived for the US #digitalasset industry -one that's tech-forward, treats customers w/ the respect you deserve & has a regional bank-style risk mgmt program. We took the hard path of becoming a regulated bank bc it's the right thing to do for customers!"
Why Caitlin Is Someone To Watch In Web3 2023: Long has shown superb leadership that comes from a solid background in traditional finance combined with a deep belief in distributed digital assets like Bitcoin.
She embodies the Web3 ethos of "move fast, break things," and in all her projects and political wrangling, she has driven the space a little closer to actual use cases that will serve people across the U.S. and the world.
In an X post Long made on July 28, 2023, she stated: "What a year 2023 has been, so far! It started with the worst week of my professional life in January when the Fed blindsided Custodia with unexpected denials. Then, the universe responded."
"The truth is that Custodia did not seek this fight and went to *extraordinary* lengths to avoid it. The Fed chose this path by not following the law. As for Custodia, no one knows how the story will end — but again, I thank everyone who has made this crazy-fun journey possible. From the Code of the West: Ride for the brand. Do what has to be done. Finish what you started."
With her extensive hands-on experience and strong advocacy for her beliefs, Long is undoubtedly a figure to keep an eye on in the Web3 space for 2023.
Read Next: EXCLUSIVE: Watch Cathie Wood Predict SEC's Loss In Bitcoin ETF Case In Benzinga Interview
Join Benzinga's Future of Digital Assets in New York City on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions and institutional adoption in the crypto space. Secure early bird discounted tickets now!
Photos: Custodia Bank; background image by Gerd Altmann from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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