Episode 116

Published on:

17th Feb 2023

The Next Shoe To Drop, Crypto Restrictions and Watching Lasers

So it's finally happened. The Federal Reserve Board warned member banks that it intends to presumptively prohibit a large portion of cryptocurrency banking activity, as the demand for more guidance over digital assets has grown following rampant instances of fraud. The regulator issued a new policy largely prohibiting digital assets from the regulated banking environment, primarily due to security concerns.

In this episode of The Higher Standard, Chris and Saied examine this news and try to determine what effect it will have on the crypto space.

They discuss a recent Gallup poll indicating that half of Americans say they are financially worse off now than they were a year ago, the highest share since 2009. About 61% of those with a household income of less than $40,000 reported they were worse off, compared to 49% and 43% for middle- and high-income households respectively.

Chris and Saied look at a report from Zillow stating that the amount of time it would take to save enough to put 10% down on a typical home in Austin rose from eight years in 2019 to 13 years in 2022.

They also offer some thoughts on Affirm Holdings Inc. seeking new sponsor banks to diversify the sources of loan originations, as the buy-now, pay-later platform comes under pressure to improve earnings after a slowdown in growth.

Join Chris and Saied for this fascinating and informative conversation.


What You’ll Learn in this Show:

  • The concept of centralized cryptocurrency exchanges and how they work.
  • What’s happening in the commercial real estate market in terms of lagging responses.
  • Why banks have an ongoing due diligence requirement for commercial loans.
  • The reasons why more San Francisco homes are selling below the asking price in LA.
  • And so much more...


"Two More ‘Shoes To Drop’ In The Real Estate Market" (article from Forbes)

"Morgan Stanley says the stock market is ‘disconnected from reality’ and it’s going to hit bottom this Spring" (article from Fortune)

"Half of Americans say they're worse off than they were a year ago" (Bloomberg Business via Instagram)

"Federal Reserve Issues New Restrictions on Crypto Banking" (article from NextGov)

"More San Francisco homes selling below asking price. Could that trend come to L.A.?" (article from the Los Angeles Times)

"It now takes roughly 13 years to save for a down payment in New York and Austin" (Bloomberg Business via Instagram)

"Fed’s Neel Kashkari says central bank has not made enough progress, keeping his rate outlook" (article from CNBC)

"Zoom to lay off 1,300 employees, or about 15% of its workforce" (article from CNBC)

“Yahoo to lay off more than 20% of staff” (article from Yahoo! Finance)

"Affirm seeks new sponsor banks as it shifts to interest-bearing loans" (article from S&P Global)

"LA landlords must pay to relocate tenants facing hefty rent hikes" (TheRealDeal via Instagram)

"There’s a new inflation warning for consumers coming from the supply chain" (article from CNBC)

"Stablecoin issuer Paxos ordered to halt creation for Binance USD" (article from Yahoo!)

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your host; Chris Naghibi is here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

Follow Chris here as he posts daily: https://www.instagram.com/chrisnaghibi

About your host

Profile picture for Christopher Naghibi

Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.