#US court shoots down Custodia Bank bid for Fed master account. The U.S. District Court for the District of Wyoming dismissed Custodia Bank’s plea for a Federal Reserve master account. Custodia Bank, specializing in digital assets, has been seeking a master account from the Federal Reserve since 2020. The account, often described as “a bank account for banks,” is crucial for accessing the Fed’s payment systems.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗺𝗲 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝘂𝗽𝗱𝗮𝘁𝗲𝘀
The Wyoming-based bank had argued that without a master account, it would be at a significant disadvantage — particularly in offering custodial services for crypto-assets compared to traditional banking institutions.
It contended that such a setback would relegate it to a “second-class citizen” status, dependent on intermediary financial institutions. It also said that this dependency undermines its operational autonomy and efficiency.
The Federal Reserve rejected the application in January 2023, citing concerns about Custodia’s involvement in the cryptocurrency sector, which it deemed inconsistent with regulatory requirements.
Regulators grew especially bearish toward the cryptocurrency sector after 2022 saw Celsius crash; Luna and TerraUSD collapse; and FTX go bankrupt (BlockFi also went bankrupt).
Custodia then sued the Federal Reserve, alleging violations of the Administrative Procedures Act (APA), and sought a writ of mandamus compelling the Federal Reserve Bank of Kansas City (FRBKC) to grant the master account. #HotTrends #TrendingPredictions #HalvingHorizons #Update #SHIB
Riding the rollercoaster of crypto emotions, investors search for genuine promises in a sea of fleeting trends. Enter Koala Coin, currently in presale stage 1, with a price of $0.014. This token is attracting investors with its potential.
Koala Coin isn’t just another meme coin project but a movement. With exclusive governance rights and staking rewards, it offers a unique blend of financial incentives and community spirit. The promise of shared memes and dreams creates a good narrative for investors.
The cryptocurrency industry saw a 23% decline in losses due to hacking and scams in the first quarter of 2024 compared to 2023, according to a March 28 research report by blockchain security firm Immunefi.
According to the report, the total amount lost to hacking and fraud incidents in Q1 of 2024 amounted to approximately $336.3 million, down from $437.5 million in the same quarter of 2023.
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The surge of #MOB , #DREP , and #PNT Coins, listed on the watch list, is a dangerous lure. Avoid falling into this money trap. Pump schemes aim to ensnare more investors. Be cautious, or you'll be crushed like a bug.
⚠️ $MOB /USDT, $DREP /USDT, and $PNT /USDT will be delisted as of 03.04.2024 05:00. Take note of the trading risks.
Stay clear of watchlist coins like these. #Bitcoin #Binance #Delist 🚫
Lookonchain's data shows that smart money deposited 500B ($3.91M) to Binance 2 hours ago, with 500B $PEPE ($3.91M) remaining. From Feb 25 to Feb 29, the same smart money withdrew 1.2T $PEPE ($1.88M at the time) from Binance. In just one month, this smart money earned approximately $7.67M (+407%) on $PEPE #Memecoins #BinanceLaunchpool #BullorBear #BullorBear #BullorBear
🔅Price is currently trading within a range and is hovering between the support and resistance levels. It is advisable to avoid trading in this zone and wait for confirmation of a test of the support level before entering new trades.#Xvgusdt #Memecoins #XVG #XVG/USDT #XVG/LONG
DeXe, the decentralized social trading platform, has ignited a bullish frenzy in the cryptocurrency market today. The native token, $DEXE , has seen a remarkable 53% surge in the past 24 hours, leaving the crypto community buzzing with excitement. This surge in DEXE tokens has been catalyzed by recent chart price action.
As of the time of this writing, the DEXE token is trading at an impressive $3.84, with a market capitalization of $139 million.
Key metrics like Short-Term Holder Realized Price and Profit/Loss Margin indicate caution.
On-chain data unveils significant BTC sell-off by whales, raising concerns of downward price pressure.
Bitcoin’s sensational rally in 2024 has captivated the financial world once again. With an impressive 72% year-to-date surge, the leading cryptocurrency soared from around $42,560 at the year’s onset to a staggering $73,000, initiating a fervent phase of price discovery.
Rogue actors have reportedly exploited a blockchain vulnerability on the Ravencoin (RVN) network to print 315 million additional RVN tokens worth about $5.7M. Hackers Mint 315M RVN from Thin Air Ravencoin announced the news in a Medium blog post published…$Rvn #Altseason2 #AltseasonAhead #RVN #Memecoins #BitcoinHalvingDrama
Congratulations If you hold $FET or $OCEAN or AGXI this is All You Need To Know & how to SWAP or Automatically get your Super Token. Fetch.ai is joining forces with SingularityNET and Ocean Protocol to create the Superintelligence Alliance with the token ticker $ASI "Artificial Superintelligence." You can read the full story about the Superintelligence Alliance here. This blog post will detail the changes that are taking place to our native cryptocurrency FET.
WIF touched the $4 mark early Friday before retreating as the meme coin sector showed the most volatility in a little-changed market#WIF #Memecoins Support me to Follow Me Thank you very Much