ChainCatcher news, according to Fox Business reporter Eleanor Terrett, the Wyoming-based crypto bank Custodia Bank will further lay off employees to save funds.

Custodia's lawsuit against the Federal Reserve will have oral arguments on January 21, coinciding with the second day of Trump's inauguration.

Custodia CEO Caitlin Long said, "I am incredibly proud of the Custodia team, the services we build for our clients, and our resilience in multiple innocent 'de-banking' incidents. I especially thank Custodia's clients and shareholders, who help us continue to advocate for lasting banking access for the compliant U.S. crypto industry."