Exclusive: The Fed responds to the Moonstone Bank mystery
Protos spoke with Melissa Clark, the Federal Reserve’s Lead Financial Institution Policy Analyst, to learn why it approved Moonstone Bank.
Cryptocurrency news by Protos · Protos
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Show Notes
One of the lingering questions for the cryptocurrency industry is how the incredibly small and foreign-owned Farmington State Bank, now Moonstone Bank, was able to acquire regulatory guidance under the Federal Reserve.
As previously reported, Moonstone received an $11.5 million investment from Sam Bankman-Fried’s now-bankrupt Alameda Research in March. It’s owned by a company called FBH — its chairman, Jean Chalopin, also chairs Deltec Bank and Trust. Deltec’s major clients include Tether and Alameda. Chalopin sits on Moonstone’s board of directors.
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