What happened to Custodia Bank is "tragic" under the current administration's efforts to de-bank the crypto industry, BCB's Oliver von Landsberg-Sadie said.
Though the Fed admitted Custodia has sufficient capital and resources to launch, it has “fundamental concerns” about the sustainability of a crypto-focused bank.
Regulators are leery of traditional banks offering services to crypto companies, and wary of specialist crypto banks, like Custodia, with new business models. Frances Coppola...
The Federal Reserve Board announced it had again rejected crypto bank Custodia's bid for Fed supervision, after previously denying the application last month. CoinDesk Global...
Custodia Bank’s membership rejection by the Federal Reserve Board is more alarming for crypto banking than the recent troubles of Binance, Juno and Signature Bank combined.