Alameda’s mystery bank stake reignites Fed deposit debate

Crypto challenger Custodia accuses regulator of unlevel playing field over master accounts

A crypto firm that has been blocked from obtaining a Federal Reserve master account has accused the regulator of operating an unlevel playing field, after the revelation that now-collapsed Alameda Research had been able to obtain a Fed account “through the back door”.

“The Federal Reserve is applying a staggering double-standard that favours incumbent banks over start-up banks, and in doing so, it has created financial system risk by allowing crypto companies through the back door to take

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