According to Fox reporter Eleanor Terrett disclosed information on the X platform, the decision in the case of crypto-friendly bank Custodia Bank v. Federal Reserve will not enter the trial stage, and summary judgment may be issued soon. “A decision on the merits of the case will be made immediately,” the judge said. In February last year, it was reported that the Federal Reserve had previously rejected Custodia’s application to join the Federal Reserve System, and Custodia filed a revised lawsuit against the Federal Reserve. The rejection of Custodia’s application was illegal, according to the lawsuit filings, and the Federal Reserve and the Biden administration allegedly coordinated a series of public statements to cooperate with the rejection of Custodia’s application.
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