Survey: About 120 crypto hedge funds have faced obstacles in obtaining banking services over the past 3 years

ChainCatcher news, citing The Wall Street Journal via Cryptoslate, a new survey shows that among 160 crypto hedge funds, about 120 funds reported issues 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 (in areas such as real estate and private credit) reported no similar issues. Banking problems include poor communication and direct termination of partnerships. Among the crypto hedge funds facing issues, more than half were explicitly informed by banks that they would terminate their partnerships.

However, the reasons for these decisions are often vague or nonexistent. When banks provide explanations, they state a desire to limit their risk exposure to cryptocurrency clients or the industry.