There was a small, seemingly ordinary bank with a few branches around San Diego, CA. Some manager there had the idea of encouraging crypto activity--opening accounts for entities that were promoting or investing in crypto. Almost all other banks wanted to steer clear of this business--for multiple reasons. But this strategy worked like Gangbusters in helping the tiny bank expand.
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A550. A Crisis?
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There was a small, seemingly ordinary bank with a few branches around San Diego, CA. Some manager there had the idea of encouraging crypto activity--opening accounts for entities that were promoting or investing in crypto. Almost all other banks wanted to steer clear of this business--for multiple reasons. But this strategy worked like Gangbusters in helping the tiny bank expand.