PANews on December 22 reported that according to Cryptoslate citing The Wall Street Journal, a new survey shows that among 160 cryptocurrency hedge funds, about 120 funds reported problems with basic banking services over the past three years. These funds invest in digital currencies and blockchain technology companies. The other 20 alternative investors surveyed (involving real estate and private credit, etc.) did not report similar problems. Banking issues include poor communication and direct termination of business relationships. Among the cryptocurrency hedge funds that encountered problems, more than half of the funds were explicitly told by banks that they would terminate their business relationships. However, the reasons for these decisions are often vague or non-existent. When banks provide explanations, they say they want to limit their risk exposure to cryptocurrency clients or the industry.
