The company that created Moonstone Bank is no more | Protos
While Farmington State Bank — which was doing business as Moonstone — sold off its assets to the Bank of Eastern Oregon and wound down in August of this year, the company that had a controlling interest in the small Washington state-based bank, FBH, also seems to be calling it quits. FBH was founded in 2020 by Jean Chalopin — the creator of Inspector Gadget and CEO and chairman of Deltec Bank and Tr US t in The Bahamas — seemingly for the sole purpose of purchasing Farmington State Bank. The mission statement and name of the bank were changed shortly after purchase to ‘Moonstone’ in order to represent its customer demographic shift: cryptocurrency companies (to the moon) and marijuana companies (stoned). End of Moonstone, end of FBH Unfortunately for Chalopin, one of the investors he sought out to buy equity in Moonstone was Sam Bankman-Fried, who poured $11.5 million into the bank for 9.9% ownership . The investment valued the third-smallest ba...