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ICOs? He held the first one. Stablecoins? He dreamed of them by accident. Vitalik Buterin tried to get him on board to help launch Ethereum, but he was too busy. He is J. R. Willett, one of the most fascinating men in the industry.
Back in 2012, Willett, now 41, felt he could improve Bitcoin by making it possible for anyone to create interoperable tokens backed by the protocol. He released a white paper that described the new model and invented a way to fund the project with a token sale. He procrastinated for the next 18 months, hoping someone else would take the bait. Eventually, he gave in and announced the Mastercoin initial coin offering, which went on to inspire Ethereum and every subsequent ICO.
Crypto Trust to Convert to Bank, FinCEN Extends New Rule Comment Period
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The Anchorage Trust Company, a subsidiary of Anchor Labs, an advanced digital asset platform (Anchorage), secured conditional approval this week from the Office of the Comptroller of the Currency (OCC) to convert to a National Trust Bank. As a trust company, Anchorage offers custody services related to transactions in digital assets and cryptocurrencies, as well as governance, staking and settlement services, and will continue to perform the activities of a fiduciary, agency or custodian post-conversion. As part of a conditional operating agreement underlying the conversion, Anchorage agreed to certain of the OCC’s risk management expectations as well as capital and liquidity requirements.