Crypto-friendly Cross River Bank has recently landed in the crosshairs of the US Federal Deposit Insurance Corporation over alleged violations of fair-lending laws, documents revealed on Friday.

The bank’s clients include various digital asset companies. USDC issuer Circle recently switched from Silicon Valley Bank after its collapse, over to the New Jersey-based bank for USDC issuance and redemption services. However, the bank's considerable rise has piqued the interest of skeptics.

In light of Cross River’s negative FDIC enforcement action, listen to the article for a review of the causes of the company’s parabolic growth -- which include ties to offshore crypto companies with traditional difficulty maintaining fiat banking relationships.

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