FTX-linked Moonstone bank to exit the crypto space By Cointelegraph

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FTX-linked Moonstone bank to exit the crypto space

Cryptocurrency Jan 19, 2023 07:00PM ET

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FTX-linked Moonstone bank to exit the crypto space

Moonstone Bank, a rural Washington state bank that received an estimated $11.5 million investment from FTX’s sister company, Alameda Research, says that it will be exiting the crypto space and returning to its “original mission” as a community bank.

In a Jan. 18 statement, the bank said that the change in strategy comes as a result of “recent events in the crypto assets industry and the changing regulatory environment surrounding crypto asset businesses.”

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