More crypto firms likely to get Fed master accounts this year, says TD Cowen

Following Kraken's approval for a U.S. Federal Reserve master account, more crypto firms are likely to secure similar access this year, according to investment bank TD Cowen. The Block reported that TD Cowen views the approvals as inevitable, given President Donald Trump's support for the crypto industry. The investment bank anticipates more announcements in the coming months and stressed that while traditional banks will likely file lawsuits in opposition, they do not have the authority to block the approvals.