Eleanor Terrett (@EleanorTerrett): 🚨SCOOP: Fox Business has learned that Wyoming-based #crypto bank @custodiabank will implement further layoffs in order to preserve capital.
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🚨SCOOP: Fox Business has learned that Wyoming-based #crypto bank @custodiabank will implement further layoffs in order to preserve capital. The move comes ahead of an anticipated regulatory shift from the incoming @DonaldTrump administration and as officials in the Biden administration double down on regulatory scrutiny (including so-called debankings) against the crypto sector on their way out the door. Oral arguments in Custodia’s lawsuit against the @federalreserve are scheduled for January 21, the day after Trump’s inauguration. “I’m incredibly proud of the Custodia team, the services we’re building for our customers, and our resilience in the face of repeated debankings due to no fault of our own,” said Custodia CEO @CaitlinLong. “I especially thank Custodia’s customers and shareholders who have helped us continue the fight for durability of banking access for the law-abiding U.S. crypto industry.” Will have more on this soon.