Anchorage and the Charter Wars with Nathan McCauley

Anchorage and the Charter Wars with Nathan McCauley

From Galaxy Brains by Galaxy Digital Research

May 21, 2026 · 50 min

About this episode

Alex Thorn interviews Nathan McCauley about Anchorage's national bank charter and the implications for the crypto industry.

Alex Thorn talks with Nathan McCauley, CEO of Anchorage, about Anchorage winning crypto’s first national bank charter and how they spent years fighting the very regulator that granted it. Now the OCC lane is reopening, competitors are piling in, and CEO Nathan McCauley explains what it means for crypto’s next phase. Alex also speaks with Beimnet Abebe (Galaxy Trading) about markets. Participants, along with Galaxy Digital, hold a financial interest in Anchorage Digital and Bitcoin (BTC). Galaxy regularly engages in buying and selling BTC, including hedging transactions, for its own proprietary accounts and on behalf of its counterparties. Galaxy also provides services to vehicles that invest in BTC. If the value of such assets increases, those vehicles may benefit, and Galaxy’s service fees may increase accordingly. The valuation in this communication is based on technical, fundamental, and market analysis and not on any formal valuation method. For more information, please refer to Galaxy’s public filings and statements. Cryptocurrencies, including BTC, are inherently volatile and risky and ultimate market movements may not align with this statement. For additional risks related…

People in this episode

Host: Alex Thorn

Guest: Nathan McCauley

Topics covered

  • crypto banking
  • national bank charter
  • regulation
  • market analysis
  • cryptocurrency volatility

Keywords

  • Anchorage
  • national bank charter
  • OCC
  • cryptocurrency
  • Bitcoin
  • market analysis
  • regulation

Mentioned in this episode

Organizations: Anchorage, OCC, Galaxy Trading, Galaxy Digital

Products: Bitcoin (BTC)

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