Insiders say crypto firms are struggling to access banking services and facing lengthy application procedures amid bank collapses and regulatory scrutiny
US banks, already hesitant to work with crypto customers, are now even warier of providing services to the industry after a string …
Archblock, TrueUSD stablecoin operator, tried to open accounts with big banks including HSBC and JPMorgan. Here's their experience: https://www.bloomberg.com/... https://twitter.com/...
Cross River Bank received requests from more than 100 new clients — not all of whom were crypto companies — seeking a safe harbor for their deposits...the closely held company turned down almost all those requests https://www.bloomberg.com/...
Banks are imposing lengthy application procedures, turning away smaller firms & some retail platforms. The nature of a crypto firm's business, incl. whether the account holds customer funds, may dictate how a lender will view its deposits, @JWPopeo https://www.bloomberg.com/...
NEW: US banks are slamming the door on many crypto clients, despite there's no blanket ban on serving the industry. Some exclusive details from our reporting with companies, banks, investors, etc. https://www.bloomberg.com/... w/@PaigeSmithNews @kjspeakstruth @crypto (1/4)
#Crypto morning nuggets (6/7): 🏦🇺🇸 US banks had already been hesitant to work with crypto customers. Now they're even more so after this year's crypto-tinged bank collapses 👇 https://www.bloomberg.com/... via @crypto
I'm going to go ahead and say that this has nothing to do with them being a crypto company, and instead them being an operator company for a company clearly owned by Justin Sun, that has no corporate documentation outside an obscure name for an “Asian Based Consortium” https://tw…