David Hoffmann

They signed in 2023 a joint crypto statement, a joint statement with the Fed and FDIC explicitly warning of the risks of crypto and public blockchains and all of these things.

Which is funny because now they're using it as collateral for loans.

Right.

Right.

Okay.

And not only that, this week from the new comptroller of the OCC, so the guy in charge of all of this, they came out with a report that was basically finger wagging, David.

So they said the OCC called out America's top banks for unlawful debanking behavior.

And they said that these banks...

targeted industries, among them the cryptocurrency industry, and they shouldn't have gone and debanked everybody.

And they wrote an entire report about it, which is hilarious to me because the OCC was one of the groups telling them to go debank crypto customers.

Right.

Anyway, part of the reason this is being unwound is because of an executive order.

Donald Trump, this is an executive order from August guaranteeing fair banking for all Americans, where he specifically asked the executive branch and the OCC to go investigate this.

And so they did.

And they came back saying the bank shouldn't have debanked anybody.

Why did you guys do that?

You guys don't have to do that anymore.

Anyway, this is the theme of the cycle.

All of the winter, the winter is thawing.

I don't think so.