Bank Abandons Crypto Activities

From: XXXXX
Sent: Thursday, December 01, 2022 9:38 AM
To: FDIC San Francisco Regional Office
Subject: FW: XXXXX - Digital Asset Activity

Please RADD email & attachment to:

Business Line: RMS
Bank: XXXXX
City/State: XXXXX
Folder: Correspondence
Source: RO
Doc Name: Miscellaneous
Description: Follow-up on potential XXXXX crypto asset relationship

From: XXXXX
Sent: Tuesday, October 18, 2022 10:06 PM
To: XXXXX
Cc: XXXXX
Subject: RE: XXXXX - Digital Asset Activity

XXXXX
They certainly made the impression that the bank was going to engage with XXXXX limited to accredited investors.

I had a call CEO XXXXX today. The bank decided to kill the XXXXX idea due to market volatility and other risks, including regulatory risk. XXXXX was well aware of the FIL and commented that if they bring it back on the table or any other crypto activity they let us know.

Let me know if you have any questions.

XXXXX

From: XXXXX
Sent: Monday, October 17, 2022 7:35 AM
To: XXXXX
Cc: XXXXX
Subject: XXXXX Digital Asset Activity

Good Morning XXXXX

I don’t think we have met, but my name is XXXXX, and I am a financial analyst for the region. We have a few banks in the region that we believe are either live or have some kind of proposed digital asset activity. I have talked with Joe a few times about what looks to be some digital asset activity at XXXXX. At this time, Paul W. wants us to start

following up with banks like XXXXX remind them of the outstanding FIL and the request for a written response about the activity.

Is there someone at the field level who can follow up with the bank to make them aware of the FIL and ask for a written response, if applicable? It does not need to be a conversation about the activity, but more so advising them that we are requesting written response for the activity.

XXXXX

Let me know if you have any thoughts/questions.

Thanks! XXXXX

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