Crypto Update | The Fed Anticipates Mild Recession, Wyoming Backs Custodia Bank and What to Expect on Ethereum's Upgrade
Markets Outlook
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The US Central Bank's Decision to Deny Crypto Deposits
Wyoming-based bank's applications were denied in January 18 months after the application was first filed. The Federal Reserve Board only made public its reasoning for the denial last month in an eviscerating 86-page report. Custodia CEO Kaitlin Long, who helped draft Wyoming's crypto laws, has been vocal in her pushback against the Fed's decision. In other news, and according to a new report out from Too Big to Fail bank JP Morgan, recent problems in the banking sector exposed weaknesses of the traditional financial system.
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