Customers Bank Cuts Ties with Crypto Hedge Funds, Caps Deposits at 15%

Customers Bank has reportedly terminated banking services for some of its crypto hedge fund clients, with the extent of the cull unclear. The move is said to be a result of housekeeping and offboarding of inactive accounts, rather than a widespread debanking of the industry. To limit its exposure to digital assets, the bank has capped deposits from crypto clients at 15% of total deposits. Customers Bank offers a real-time blockchain-based payments platform called Customer Bank Instant Token (CBIT) that allows crypto clients to make US dollar payments 24/7.