Custodia Bank’s Board of Directors voted Tuesday to further reduce operations and preserve capital in anticipation of major crypto policy reforms from the incoming administration in Washington, D.C. By taking this step ahead of the projected turn in U.S. crypto policy, Custodia preserves its bank charter, its API-based real-time payments and Bitcoin custody platforms, its patent on bank-issued stablecoins and its clean compliance and operating record.
“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 Caitlin Long, founder and CEO of Custodia Bank. “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.”
Oral argument in Custodia’s lawsuit against the Federal Reserve is scheduled for January 21, 2025.