The Federal Reserve terminates enforcement action against Farmington State Bank related to FTX

ChainCatcher news, the Federal Reserve stated on Tuesday that it has terminated its enforcement action against Farmington State Bank, which is associated with the collapsed cryptocurrency company FTX. The Federal Reserve indicated that the action has been in effect since last July, ensuring that the bank could protect depositors' interests during the liquidation. The central bank stated that Farmington Bank is no longer operating as a bank.