Fwd: Invitation to the NYDFS Virtual Currency Diversity Panel - October 19, 2021

Gunnar Larson g at xny.io
Fri Feb 25 12:07:38 PST 2022


---------- Forwarded message ---------
From: Gunnar Larson <g at xny.io>
Date: Tue, Oct 12, 2021 at 3:03 PM
Subject: Re: Invitation to the NYDFS Virtual Currency Diversity Panel -
October 19, 2021
To: Weintraub, Cathy (DFS) <Cathy.Weintraub at dfs.ny.gov>
Cc: Alexi Anania <a at xny.io>, Goberdhan, Harry (DFS) <
Harry.Goberdhan at dfs.ny.gov>, Choy, Man-Ying (DFS) <Man-Ying.Choy at dfs.ny.gov>


Ms. Weintraub:

Bloomberg  today sent us an article that discusses PayPal's
legacy leadership focus
<https://www.bloomberg.com/news/features/2021-09-15/peter-thiel-gamed-silicon-valley-tech-trump-taxes-and-politics?sref=HiJo51bv>
*against* diversity and inclusion.

*Furthermore, we should be mindful of the the points below: *

   - October 21, 2020: NY-DFS Announcement
   <https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202010211>
   of PayPal's Conditional BitLicense
   - October 21, 2020: Eastern District of New York "
   Deferred Prosecution Agreement
   <https://www.justice.gov/criminal-fraud/file/1329926/download>" reached
   with The Goldman Sachs Group, Inc.
   - October 12, 2021: PayPal and Goldman Sachs have mutual stock
   interests with each other over 1B.

Attachment C (Corporate Compliance Program) of the Deferred Prosecution
Agreement highlights several concerns of potential issues related to
potential violations concerning diversity and inclusion. We know of a few
as an international MBA candidate.

>From our perspective, we again submit a further prompt to your office of
earning a conditional "pass through letter" as described below. Might we be
able to discuss this more over the phone?

Sending you the very best regards.

Thank you,

Gunnar
--
*Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>*
MSc
<https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB>
-
Digital Currency
MBA
<https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/>
- Entrepreneurship
and Innovation (ip)

G at xNY.io
+1-646-454-9107
New York, New York 10001

On Wed, Oct 6, 2021 at 5:03 PM Gunnar Larson <g at xny.io> wrote:

> Ms. Weintraub:
>
> Hope you are doing well.
>
>    - The NY-DFS "*Diversity in Action: A Discussion with Virtual Currency
>    Leaders*" invitation was nice to receive (below). Indeed, xNY.io -
>    Bank.org is very excited to be at Ms. Harris' will as Superintendent.
>    - Ms. Weintraub, we operate under the obvious working assumption that
>    Bank Applications holds a significant senior level role to the future of
>    New York financial innovation.
>    - Wells Fargo - PayPal - Kiva.org are literally the world's worst
>    examples specific ro diversity, equity and inclusion practices and
>    initiatives in the virtual currency industry.
>
> Here in New York, NASDAQ references Wells Fargo
> <https://www.nasdaq.com/articles/wells-fargo-now-offers-bitcoin-crypto-exposure-to-wealthy-clients-2021-08-02>
> offering virtual currency to wealthy clients. PayPal and Wells Fargo are
> "more or less" the same company doing bad things sacrificing diversity.
> Case in point, both Wells Fargo and PayPal power Kiva.org as literally the
> world's top microcredit lending fraud.
>
> Ms. Weintraub, all of these details have been part of the Bank.org |
> NY-DFS Shelf Charter Strategic Outline
> <https://docs.google.com/document/d/1fwSKlEm07eY90Wh_SIujF-8C_Ixmxiuo0wkN7-LH07Q/edit?usp=sharing> materials
> shared for your esteemed review. This July we contacted the SEC for
> guidance on this matter and it would appear that both the SEC and FDIC are
> aware of the rational:
>
>    - Following SEC Guidelines we have organized a "Manual of Highlights"
>    <https://thecapital.io/article/crypto-computer-crimes-manual-w183-highlights-Mj17zgV81Qw6GJsfrtm>
>    of working references on disclosure controls and procedures, as well as
>    strategic initiatives including mergers and acquisitions, joint ventures,
>    and management restructurings (including public/private board of directors)
>    - Full, fair, and accurate disclosures from all parties in a battle
>    for corporate influence or control are critically important to investors,
>    particularly when they are called upon to make decisions about their
>    investments.
>    - "Over-Over Disclosing" as per best regulator relationship practices
>    is to illustrate various potential scenarios when market conditions are met
>    and a board of directors potentially exploits blockchain technological
>    software innovation with forecastable reckless consequences.
>
> NY-DFS may appreciate xNY.io working to disclose and secure Bank.org Shelf
> Charter Phase 1 -  Step 11:
> <https://www.dfs.ny.gov/apps_and_licensing/banks_and_trusts/shelf_charter>
>
> 11. Amount of Capital Contribution: Although it is impossible to establish
> the exact required capital levels until target institution is identified,
> the applicant will furnish a range of capital it can provide within a short
> period of time.  Applicant will deposit earnest funds* in an escrow
> account* in an amount to be determined. ...  Applicant shall supply
> evidence that funds are readily available and that applicant has the
> wherewithal to support commitments.
> *A discussion of sources of funds shall be included ... *
>
>
> We would like to be granted approval to initiate portions of the xNY.io |
> CryptoBank Summary
> <https://docs.google.com/document/d/10htpAEAcydm9NTgUQZVU4aEfJq999UwRlGvOJZsXcqA/edit?usp=sharing>.
> Specifically, xNY.io seeks to earn a NY-DFS virtual currency conditional
> "pass through letter" permitting specific trading activities. We feel the
> appropriate working notes are ready for NY-DFS conditional approval (for
> instance) when market conditions are met and a Board of Directors
> potentially exploits blockchain technological software innovation with a
> forecastable market event.
>
> I will call your office on Thursday afternoon to seek guidance on "pass
> through" consideration(s).
>
> Sending you the very best regards.
>
> Thank you,
>
> Gunnar
> --
> *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>*
> MSc
> <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB> -
> Digital Currency
> MBA
> <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/> - Entrepreneurship
> and Innovation (ip)
>
> G at xNY.io
> +1-646-454-9107
> New York, New York 10001
>
>
>
> ---------- Forwarded message ---------
> From: dfs.sm.BankingDEI <BankingDEI at dfs.ny.gov>
> Date: Tue, Oct 5, 2021, 1:27 PM
> Subject: Invitation to the NYDFS Virtual Currency Diversity Panel -
> October 19, 2021
> To: dfs.sm.BankingDEI <BankingDEI at dfs.ny.gov>
>
>
>
>
> [image: Text Description automatically generated]
>
>
>
>
>
>
>
>
>
> OCTOBER
>
> 19
>
> 11:30 AM – 1:00 PM EST
>
> [image: A group of people sitting in chairs with balloons in the
> background Description automatically generated with low confidence]
> DIVERSITY, EQUITY & INCLUSION WEBINAR
>
> Diversity in Action: A Discussion with Virtual Currency  Leaders
>
>
>
> Please join us for a conversation with leaders in the virtual currency
> industry as they discuss actions that crypto companies can take to increase
> the diversity of their leadership and broader workforce. The webinar will
> include two panel discussions. The first panel will provide perspectives
> from leading industry executives and the second panel will focus on
> specific diversity, equity and inclusion practices and initiatives in the
> crypto industry. For more information on what DFS is doing to support our
> regulated entities’ diversity, equity, inclusion and corporate governance efforts,
> see the Industry Letter
> <https://www.dfs.ny.gov/industry_guidance/industry_letters/il20210729_diversity_equity_incl_corpgov> we
> published on July 29, 2021.
>
>
>
> *  MEET THE SPEAKERS*
>
>
>
>
>
> [image: A picture containing person, wall, indoor, posing Description
> automatically generated]
>
> *Adrienne Harris (Opening Remarks)*
>
> Acting Superintendent of Financial Services
>
> New York State Department of Financial Services
>
>
>
>
>
> [image: A person wearing glasses Description automatically generated with
> medium confidence]
>
> *Matthew Siegel (Moderator)*
>
> Acting Executive Deputy Superintendent, Research and Innovation Division,
> New York State Department of Financial Services
>
>
>
> *        PANEL ONE:  PERSPECTIVES FROM LEADING THINKERS IN CRYPTO*
>
>
>
> [image: A person with blonde hair Description automatically generated with
> medium confidence]
>
> *Michelle Bond*
>
> CEO, Association for Digital Asset Markets
>
> (ADAM)
>
>
>
> [image: A person wearing glasses Description automatically generated with
> low confidence]
>
> *Jose Fernandez da Ponte *
>
> SVP, GM Blockchain, Crypto & Digital Currencies
>
> PayPal
>
>
>
> [image: A person in a white suit Description automatically generated with
> low confidence]
>
> *Sheila Warren *
>
> Deputy Head of the Centre for the Fourth Industrial Revolution, Head of
> Data, Blockchain, and Digital Assets. Member of the Executive Committee at
> the World Economic Forum.
>
>
>
> *        PANEL TWO:  DEI PRACTICES AND INITIATIVES IN THE VIRTUAL CURRENCY
> INDUSTRY*
>
>
>
> [image: A person with long hair Description automatically generated with
> low confidence]
>
> *Dominique Baillet*
>
> Global Head of Employee Experience, Diversity & Inclusion
>
> Coinbase
>
>
>
> [image: A person in a suit and tie Description automatically generated
> with medium confidence]
>
> *Larry Wade*
>
> Sr. Director, Blockchain/Digital Currencies Risk & Compliance
>
> PayPal
>
>
>
> [image: A picture containing person, indoor, sweater Description
> automatically generated]
>
> *Genesis Whitlock*
>
> Principal in Diversity, Equity and Inclusion
>
> Gemini
>
>
>
> More information, including speakers’ bios, can be found on the DEI Event
> <https://www.dfs.ny.gov/event/dfs-diversity-equity-and-inclusion-webinar>
> page.
>
>
>
>
>
>
> *Register with Password VrCurr101921*
> <https://meetny.webex.com/meetny/onstage/g.php?MTID=e3339addcb0cbdeb112f0665b09b038ce>
>
>
>
>
>
>
>
> Please register by* Tuesday, October 12, 2021*
>
> Questions? BankingDEI at dfs.ny.gov
>
>
>
>
>
> *www.DFS.ny.gov* <http://www.DFS.ny.gov>*  |  @NYDFS  *
>
>
>
>
>


-- 
*Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>*
MSc
<https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB>
- Digital Currency
MBA
<https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/>
- Entrepreneurship and Innovation (ip)

G at xNY.io
+1-646-454-9107
New York, New York 10001
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