Court closes Custodia fight with Federal Reserve just as Fed opens master-account door
Just days after the Federal Reserve granted a limited master account to Kraken, crypto bank Custodia's years-long court battle with the Fed concludes in a loss.
What to know:
- A federal court denied Custodia Bank's request to review the Federal Reserve's powers as the final word on so-called master accounts.
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The narrative presented here is heavily calibrated toward managing perception, acting as a carefully constructed ‘motte-and-bailey’ tactic. The article frames Custodia’s loss as a straightforward affirmation of the Fed’s power, while simultaneously highlighting the concurrent openings created by Kansas City and the national board. This strategic juxtaposition subtly diminishes Custodia’s claim, suggesting it was always a matter of timing rather than fundamental principle – a classic deflection. ...
