Custodia Bank Layoffs Amid Crypto Crackdown
This is a news story, published by CoinGape, that relates primarily to Custodia Bank news.
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•Custodia Bank Cuts Jobs Amid Biden's Crypto Crackdown, Will Trump Ease Regulations?
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Custodia Bank , a crypto-friendly bank, has announced the layoff of nine employees, representing 25% of its workforce.
The bank’s decision comes as it struggles to secure a master account from the Federal Reserve , which is crucial for its operations.
Traditional banks have been cautioned against doing business with crypto firms, citing the volatility and regulatory uncertainties associated with digital assets.
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