ChainCatcher news, according to Fox Business reporter Eleanor Terrett, the Wyoming-based crypto bank Custodia Bank will further lay off employees to save costs.The oral arguments for Custodia's lawsuit against the Federal Reserve will take place on January 21, coinciding with the second day of Trump's inauguration.Custodia CEO Caitlin Long stated, "I am incredibly proud of the Custodia team, the services we build for our clients, and our resilience during multiple innocent 'debanking' incidents. I especially thank Custodia's clients and shareholders who help us continue to fight for lasting banking access for the compliant U.S. crypto industry."

According to ChainCatcher news, the Financial Times reports that Meta plans to cut more than 10% of its UK workforce and abandon its Instagram hub in London. An internal document sent to employees on Wednesday shows that at least 687 positions will be eliminated, primarily in London, while more employees among the approximately 5,000 staff in the UK face the risk of layoffs.The most affected team is Instagram in London, where 250 jobs will be cut, and the remaining employees will have the opportunity to relocate to New York. Layoffs will also impact about 55 positions in WhatsApp and Facebook, as well as nearly 60 positions in Reality Labs and the artificial intelligence team. (source link)