Judge to grant summary judgment in crypto-friendly bank Custodia Bank v. Federal Reserve case

According to information disclosed by Fox reporter Eleanor Terrett on the X platform, the ruling in the case of crypto-friendly bank Custodia Bank v. Federal Reserve will not go to trial and a summary judgment may be issued soon. "A decision on the merits will be made immediately," the judge said. Last February, it was reported that the Federal Reserve had previously rejected Custodia’s application to join the Federal Reserve System, and Custodia filed an amended lawsuit against the Federal Reserve. The denial of its application was unlawful, according to the lawsuit, which said the Federal Reserve and the Biden administration allegedly coordinated a series of public statements to coincide with the rejection of Custodia's application.