On November 26th, it was reported that Custodia Bank, a cryptocurrency bank, voted to further reduce its operations and preserve capital in response to major cryptocurrency policy reforms that are expected to be introduced by the new Washington government. The bank stated that this move will preserve its banking license, API-based real-time payments and Bitcoin custody platform, and stablecoin issuance patents. Custodia Bank's founder and CEO, Caitlin Long, stated that despite facing the dilemma of being unjustly delisted by banks multiple times, she is satisfied with the team, customer service, and team resilience. In August of this year, Custodia Bank cut nine out of 36 employees in response to the regulatory policies on cryptocurrency assets introduced by the Biden administration, in order to save resources for legal battles with the Federal Reserve. The bank is seeking to obtain primary account privileges, which would allow direct access to the Federal Reserve's liquidity tools and avoid additional costs through other institutions.