PANews reported on December 22 that Cryptoslate cited the Wall Street Journal as saying that a new survey showed that about 120 of the 160 crypto hedge funds reported problems with basic banking services in the past three years. These funds invest in digital currencies and blockchain technology companies. None of the other 20 alternative investors surveyed (involving areas such as real estate and private credit) reported similar problems. Bank problems range from poor communication to direct termination of partnerships. Among the crypto hedge funds that encountered problems, more than half of the funds were explicitly told by the bank that they would terminate their partnership with them. However, the reasons for these decisions are often vague or non-existent. When banks gave explanations, they said they wanted to limit their exposure to cryptocurrency clients or the industry.
Survey: About 120 crypto hedge funds encountered obstacles in obtaining banking services in the past three years
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