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Wall Street Unplugged - What's Really Moving These Markets

Regulators’ crypto crackdown is backfiring

Wall Street Unplugged - What's Really Moving These Markets

Frank Curzio

Business, News, Commodities, Debt, Investing, Macroeconomics, Gold, Personal, Uranium, Oil, Economics, Business News, Geopolitics, Industry, Crypto, Stocks, Curzio, Trading, Finance, Research, Investments, Tokens, Talk, Crisis

4.51.1K Ratings

🗓️ 1 March 2023

⏱️ 33 minutes

🧾️ Download transcript

Summary

Big banks are cracking down on everything related to crypto—even us here at Curzio Research…   I start today’s show by sharing the story of Bank of America dropping us as a customer. I rant about how the government’s interference is terrible for the entire industry… the no-brainer regulations it should enforce… how regulators are acting like bad parents… and how (as with bad parents) the “tough love” is backfiring.   Meanwhile, the crypto market is shrugging off the negativity… with prices holding up well (even as stocks tumble). I break down how the crypto space reminds me of the early days of sports betting.   As a reminder, tomorrow will be our first episode of WSU Premium—which will include a ton of new features aimed at making you richer and more informed. If you haven’t already, be sure to .   In this episode  Bank of America is breaking up with Curzio Research [0:30] The government is trying to pick the crypto winners and losers [6:35] Regulators can’t keep crypto in a corner [12:20] Crypto is following the path of sports gambling [21:00] [30:19]   Enjoyed this episode? Get Wall Street Unplugged delivered FREE to your inbox each week:   Wall Street Unplugged podcast is available at: --: itunes.apple.com/us/podcast/wall-street-unplugged-frank/ --: www.stitcher.com/podcast/curzio-research/wall-street-unplugged-2 --: www.curzioresearch.com/category/podcast/wall-street-unplugged/   : twitter.com/frankcurzio :. www.facebook.com/CurzioResearch/ : www.linkedin.com/in/frank-curzio-690561a7/ : www.curzioresearch.com

Transcript

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0:00.0

Wall Street Unplug looks beyond the regular headlines, heard on mainstream financial media

0:06.9

to bring you unscripted interviews and breaking commentary direct from Wall Street, right

0:11.6

to you on Mainstrum.

0:12.6

Let's go out there, it's March 1st.

0:17.8

No Frank Kursh, just a Wall Street Unplug pockets, we're breaking the headlines, and, uh...

0:28.9

I don't know what's really moving these markets, so I'm about to say, may get me a little

0:37.1

bit of trouble, but I think the world should know it, I think it's very important.

0:41.5

We're doing business with Bank of America, all corporations since we started this business

0:47.1

five years ago, and Bank of America last week, decided to send me a letter saying that

0:53.4

they would no longer do business or curse your research.

0:56.0

Found that interesting.

1:00.8

Maybe it's because we talk about crypto, but CNBC talks about crypto, maybe it's because

1:05.4

we invested in TCG, yet, you know, Nike investing in Roblox or other major retailing companies

1:13.0

are investing in Roblox to build a metaverse, put some par, and hundreds of revenue is

1:19.0

derived with the same thing over the past five years, which is subscriptions.

1:25.0

And the letter they sent to us, right, letter, they didn't call me, they didn't call me

1:29.4

personally, they sent the letter, but they said they would no longer do business with

1:33.1

us, and we would restrict deposits on your accounts, I said, you have 30 days to transfer

1:40.1

everything out of Bank of America, and in this letter, they write a number to call it,

1:46.0

says, we're here if you have any questions, so I called it, and I want you to listen

1:53.1

to exactly what's on this recording.

1:55.1

If you have been referred to this phone number, it is because we are unable to open new accounts

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