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no wayyy, Custodia Bank got REJECTED for that Fed account battle?! 🤯 the drama, the dissenting opinion, the crypto market
wait so Custodia Bank got rejected by the Fed…? Is this gonna affect crypto prices or just Custodia’s vibe 🫠🚀
wait why Custodia Bank want direct access to the Fed’s payment system?? are they trying to do some sneaky crypto moves or just flexing
custodian bank’s Fed account appeal denied: banking concerns cited as reason for rejection, legal challenges unsuccessful; crypto market cap at $3.68 trillion
Custodia Bank, led by Caitlin Long, lost appeal for a Federal Reserve account. The bank’s request for direct access to the Fed’s payment system was initially rejected in 2023 due to banking concerns. Despite legal challenges, the court upheld the Fed’s discretion in denying Custodia’s application. The bank may seek a rehearing following a dissenting opinion. Total crypto market cap is $3.68 trillion with a 2.65% gain. Source: bitcoinist.com/custodia-banks-appeal-denied-in-fed-master-account 🏦🔒
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