Coinbase's Battle for Crypto Banking Access
Internal FDIC Communications and the Crypto Sector
The crypto sector has long contended that it has been barred from accessing U.S. banking services. Coinbase Chief Legal Officer Paul Grewal argues that the FDIC documents clearly show that crypto businesses were shut out by the regulator. In one of the 23 letters shared by Coinbase, the regulator wrote, "We respectfully ask that you pause all crypto asset-related activity. The FDIC will notify all FDIC-supervised banks at a later date when a determination has been made on the supervisory expectations for engaging in crypto asset-related activity." This indicates a clear stance by the regulator and raises questions about the future of cryptocurrency banking in the United States.For years, the crypto industry has been advocating for equal access to banking services. The fact that the FDIC appears to be taking a restrictive approach has led to concerns among crypto businesses and enthusiasts. It is crucial to understand the implications of these actions on the growth and development of the cryptocurrency market.
Coinbase's Chief Legal Officer's Perspective
Paul Grewal, Coinbase's Chief Legal Officer, expressed his views on the matter. He told CoinDesk that the letters show that this was not a conspiracy theory or rank speculation. There was a concerted plan by the FDIC to deny banking services to a legal American industry. This statement carries significant weight and highlights the seriousness of the situation.Grewal's words should give everyone pause and make them consider the impact of regulatory actions on the crypto sector. It is essential to have a balanced approach that takes into account the potential benefits and risks of cryptocurrency while also ensuring regulatory compliance.
The Impact of the News on Crypto Regulation
The news comes at a crucial time as the face of crypto regulation in the U.S. is set to transform with the advent of President-elect Donald Trump's new administration. Trump has said that he plans to nominate a pro-crypto former SEC commissioner, Paul Atkins, to head the commission. This has left observers hopeful about the industry's future.If the SEC under his leadership adopts a more cooperative crypto tone, it could open up new opportunities for Web3 innovation. Several high-profile lawsuits, such as those involving Coinbase and Ripple, are reshaping how crypto companies operate in the U.S. The shift in regulation will have a profound impact on the industry and its players.
PYMNTS has contacted the FDIC for comment but has not yet received a reply. The outcome of this situation remains uncertain, and it will be interesting to see how the regulatory landscape evolves in the coming months.Unveiling the 2025 Golden Globes Nominations
Film Side Nominations
Emilia Pérez stands out with an impressive 10 nominations, leading the pack. The Brutalist follows closely with seven nods, while Conclave secures six. Notable films like Dune: Part Two, Nickel Boys, and September 5 also make their mark in the drama category. On the comedy and musical front, Anora, Challengers, and Wicked shine brightly.
Original scores by Conclave, The Brutalist, Dune: Part Two, Emilia Pérez, and The Wild Robot add another layer of musical magic to the nominations. Each score contributes to the overall cinematic experience.
Television Side Nominations
The Bear takes the lead on the TV side with five nominations, followed by Only Murders in the Building and Shgun with four each. In the drama category for male actors, Donald Glover in Mr. and Mrs. Smith, Jake Gyllenhaal in Presumed Innocent, Gary Oldman in Slow Horses, Eddie Redmayne in The Day of the Jackal, Hiroyuki Sanada in Shgun, and Billy Bob Thornton in Landman are among the contenders.
For female actors in supporting roles on TV, Liza Colon-Zayas in The Bear, Hannah Einbinder in Hacks, Dakota Fanning in Ripley, Jessica Gunning in Baby Reindeer, Alison Janney in The Diplomat, and Kali Reis in True Detective: Night Country bring their A-game.
Other Categories
In the television limited series, anthology series, or motion picture made for television category, "Baby Reindeer," "Disclaimer," "Monsters: The Lyle and Erik Menendez Story," "The Penguin," "Ripley," and "True Detective: Night Country vie for attention. Male actors in supporting roles on TV like Tadanobu Asano in Shgun, Javier Bardem in Monsters, Harrison Ford in Shrinking, Jack Lowden in Slow Horses, Diego Luna in La Máquina, and Ebon Moss-Bachrach in The Bear also make their mark.
Non-English language films like "All We Imagine as Light," "Emilia Pérez," "The Girl with the Needle," "I’m Still Here," "The Seed of the Sacred Fig," and "Vermiglio" add a global flavor to the nominations. Female actors in musical or comedy TV series such as Kristen Bell in Nobody Wants This, Quinta Brunson in Abbott Elementary, Ayo Edebiri in The Bear, Selena Gomez in Only Murders in the Building, Kathryn Hahn in Agatha All Along, and Jean Smart in Hacks showcase their versatility.
Directors like Jacques Audiard for Emilia Pérez, Sean Baker for Anora, Edward Berger for Conclave, Brady Corbet for The Brutalist, Coralie Fargeat for The Substance, and Payal Kapadia for All We Imagine as Light bring their unique visions to the forefront.
The 2025 Golden Globes will take place on Sunday, Jan. 5, at 8 p.m. ET/5 p.m. PT, airing live on CBS and streaming live on Paramount+. It's an event that promises to be a celebration of excellence in the entertainment industry.
Unveiling the Stars of the 2025 Golden Globes
Film Side Nominations
“Emilia Pérez” stands out with an impressive 10 nominations, leading the film category. “The Brutalist” closely follows with 7 nods, while “Conclave” secures 6. Other notable films like “Dune: Part Two,” “Nickel Boys,” and “September 5” also make their mark in the drama category. For comedies and musicals, “Anora,” “Challengers,” “A Real Pain,” “The Substance,” and “Wicked” shine.
The original scores are equally captivating, with “Conclave,” “The Brutalist,” “Dune: Part Two,” “Emilia Pérez,” and “Challengers” vying for the top spot. Each score adds a unique layer to its respective film.
Television Side Nominations
On the TV side, “The Bear” takes the lead with 5 nominations, followed by “Only Murders in the Building” and “Shgun” with 4 each. In the drama category for male actors, Donald Glover in “Mr. and Mrs. Smith,” Jake Gyllenhaal in “Presumed Innocent,” Gary Oldman in “Slow Horses,” Eddie Redmayne in “The Day of the Jackal,” Hiroyuki Sanada in “Shgun,” and Billy Bob Thornton in “Landman” are among the contenders.
For limited series, anthology series, and TV movies, “Baby Reindeer,” “Disclaimer,” “Monsters: The Lyle and Erik Menendez Story,” “The Penguin,” “Ripley,” and “True Detective: Night Country” are in the running. Female actors also have their share of nominations, with Kristen Bell in “Nobody Wants This,” Quinta Brunson in “Abbott Elementary,” Ayo Edebiri in “The Bear,” Selena Gomez in “Only Murders in the Building,” Kathryn Hahn in “Agatha All Along,” and Jean Smart in “Hacks” making their mark.
Other Notable Nominations
There are numerous other categories with outstanding nominations. From best original screenplay with “Emilia Pérez,” “Anora,” “The Brutalist,” “A Real Pain,” and “The Substance” to best director like Jacques Audiard in “Emilia Pérez,” Sean Baker in “Anora,” and Edward Berger in “Conclave.”
The 2025 Golden Globes will take place on Sunday, Jan. 5, at 8 p.m. ET/5 p.m. PT, airing live on CBS and streaming live on Paramount+. It's an event that brings together the best of the entertainment industry and promises to be a night to remember.