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Gene A. Grant II @Genegr2

Former LevelField Financial CEO. Opinions expressed are my own, and not necessarily those of my employer.

Joined May 2010
  • Tweets 307
  • Following 277
  • Followers 442
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Gene A. Grant II
@Genegr2
17 Nov 2025
bloomberg.com/news/articles/… LevelField Bank is approved! The bank will serve consumer and business customers in the bitcoin and digital asset communities, as well as businesses in other underbanked industries. LevelField Bank fully supports digital assets, and whether our customers want to buy/sell/hold/borrow, we will meet their needs through BTC-backed loans, custody, trading, and regular bank accounts.

Crypto Firm LevelField Secures Illinois Approval to Buy Bank

LevelField Financial Inc.’s application to buy Chicago-based Burling Bank was accepted by the Illinois Department of Financial and Professional Regulation, the latest step in its push to become a...

bloomberg.com
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americanbanker.com/news/digi… LevelField Financial received conditional approval to acquire Burling Bank, and American Banker covers the story as we progress towards LevelField Bank

Digital asset firm LevelField closer to buying Burling Bank

The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With...

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prnewswire.com/news-releases… More detail on the LevelField Bank approval in our press release. The bank will serve consumer and business customers across the USA. LevelField Bank will be a subsidiary of LevelField Financial

LevelField Bank Approved to Offer Business and Consumer Banking and Digital Asset Services in all...

LevelField Financial was approved by the Illinois Department of Financial and Professional Regulation to Acquire Burling Bank and the to-be-renamed LevelField...

prnewswire.com
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Gene A. Grant II retweeted
OCC
@USOCC
7 Oct 2025
There is currently no standard definition of the term “unsafe or unsound practice,” resulting in enforcement actions & supervisory criticisms not related to material financial risks. Read proposed rule to clarify enforcement & supervision standards. occ.gov/news-issuances/news-…
Agencies Issue Joint Proposal to Define “Unsafe or Unsound Practice” and to Revise the Framework for Issuing Matters Requiring Attention

ALT Agencies Issue Joint Proposal to Define “Unsafe or Unsound Practice” and to Revise the Framework for Issuing Matters Requiring Attention

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If Fed Funds drops to 1%, what happens to all the non-bank "neobanks" who rely on interest on deposits from their partner banks? Business model implodes?
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bloomberg.com/opinion/newsle… Fantastic that Matt Levine wrote about @permutocapital today! My article on Permuto was in @Forbes a few weeks ago, so i was thrilled to see that it also caught the attention of my favorite columnist.

Everything Is an ETF Now

Autocallables, Microsoft Strips, BNB treasury strategy and on-cycle recruiting.

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Great to see the OCC leading the way with financial innovation. I do note, however, they do have a stipulation: "safe, sound and fair manner". The words "Safe and Sound" are standard requirements for the provision of banking services. The inclusion of "Fair" is significant.
OCC
@USOCC
13 May 2025
The federal banking system is well positioned to engage in digital asset activities. OCC Interpretive Letters 1183 and 1184 clarify and confirm national banks may engage in certain crypto-asset activities, provided they do so in a safe, sound and fair manner.
More than 50 million Americans now hold some form of cryptocurrency, and digital assets continue to represent hundreds of billions in financial activity. The digitalization of financial services is not a trend—it is a transformation.

ALT More than 50 million Americans now hold some form of cryptocurrency, and digital assets continue to represent hundreds of billions in financial activity. The digitalization of financial services is not a trend—it is a transformation.
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This makes it clear that the @LevelfieldEx business model is allowed for a bank. Next step is the long-awaited approval of our acquisition!
OCC
@USOCC
7 May 2025
OCC-regulated banks may buy and sell assets held in custody and are permitted to outsource bank-permissible crypto-asset activities, including custody and execution services. occ.gov/news-issuances/news-…
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Put another way, state trust companies are currently NOT qualified custodians (no matter what they say)
Bitcoin Magazine
@BitcoinMagazine
25 Apr 2025
JUST IN: 🇺🇸 SEC Commissioner Mark Uyeda suggests the SEC should allow state-chartered trust companies to custody #Bitcoin and crypto.
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federalreserve.gov/newsevent… The Federal Reserve has removed the last of the obstacles for the integration of crypto into safe and sound banking. Great news for @LevelfieldEx

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Banks may soon own cryptocurrency. The idea of traditional banks holding digital assets was inconceivable a few months ago, but times are changing. forbes.com/sites/digital-ass…

Why Banks In The U.S. May Be Permitted To Own Cryptocurrency

Banks need to enter the market. Regulatory uncertainty, concerns over volatility, and the perceived risks associated with digital assets have kept banks on the sidelines.

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The restriction on banks directly holding cryptocurrency makes little sense, considering their expertise in handling volatile assets. forbes.com/sites/digital-ass…
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I revised my article about the OCC authorizing national banks to offer cryptocurrency services. I wanted to highlight that the OCC has also rescinded the directive barring banks from holding cryptocurrencies directly. forbes.com/sites/digital-ass…

Banks In Crypto: The OCC’s Quiet Game-Changer

The OCC policy is finally clear that national banks can provide cryptocurrency related services as long as the banks do so in a safe and sound manner.

forbes.com
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National banks can provide cryptocurrency related services forbes.com/sites/digital-ass…

Banks In Crypto: The OCC’s Quiet Game-Changer

The OCC policy is finally clear that national banks can provide cryptocurrency related services as long as the banks do so in a safe and sound manner.

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Banks still cannot hold cryptocurrency for their own accounts. The OCC Interpretive Letter 1183 on Friday was a great start, but no celebration until the Jan. 3, 2023 prohibition is removed. federalreserve.gov/newsevent…

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occ.treas.gov/news-issuances… The OCC has withdrawn 1179 (pre-permission). More importantly, the OCC has reaffirmed letter 1170 -- stating it is permissible for banks to engage in custody and custody related services.
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Permuto Capital products intrigue me. Splitting dividends away from a common share is interesting financial innovation. Watching to see it explode in volume once they launch forbes.com/sites/digital-ass…

Blockchain-Powered Certificates Redefine Stock Ownership

Pioneering Permuto Capital products, built upon an optional blockchain solution using the Chia Network, are poised to attract a wide range of investors.

forbes.com
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whitehouse.gov/presidential-… I wonder if the bank regulators will now remove the prohibition on banks owning cryptocurrency. Seems such a restriction may not match the spirit of the Executive Order

Strengthening American Leadership in Digital Financial Technology

By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote United States

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