According to FoxBusiness, the Biden administration's regulatory crackdown on cryptocurrencies has led to a major restructuring of a small but highly anticipated cryptocurrency bank. The media learned that CustodiaBank, a Wyoming financial institution that provides banking services to cryptocurrency companies, notified its employees on Thursday morning that it will lay off 9 out of 36 employees in a court battle with the US central bank to preserve capital. The layoffs come at a time when Custodia is embroiled in a legal dispute with the Federal Reserve over the so-called main account, which allows state chartered agencies to use the Fed's liquidity facilities, including payment services. @securitize @seir