The Federal Reserve terminated an enforcement action with Farmington State Bank on February 6, announcing that the FTX-affiliated bank had "completed its wind-down plan and no longer functions as a bank." "The Board's enforcement action, which has been in effect since July 2023, ensured the bank's operations would wind down in a manner that protected […] The post FTX-linked Farmington State Bank Cleared from Federal Reserve Enforcement Action appeared first on Cryptonews.
FTX-linked Farmington State Bank Cleared from Federal Reserve Enforcement Action
Crypto News - 6 Feb 2024 23:17
The Federal Reserve terminated an enforcement action with Farmington State Bank on February 6, announcing that the FTX-affiliated bank had "completed its wind-down plan and no longer functions as a bank." "The Board's enforcement action, which has been in effect since July 2023, ensured the bank's operations would wind down in a manner that protected […] The post FTX-linked Farmington State Bank Cleared from Federal Reserve Enforcement Action appeared first on Cryptonews.
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