According to TechFlow, people familiar with the matter said that Customers Bank will cancel the bank accounts of some crypto hedge funds, mainly for internal management and cleaning up inactive accounts. The bank limits crypto customer deposits to 15% of total deposits to control digital asset risks.
The move affected some cryptocurrency companies, but it was not a wholesale exodus of funds.
The bank is reportedly serving some of the largest companies in the cryptocurrency space, including Galaxy Digital (GLXY), Coinbase (COIN), and Circle.
