Around 120 crypto hedge funds encountered difficulties in accessing banking services over the past three years, representing 75% of those surveyed by AIMA. Unlike other asset classes, such as real estate, these funds faced issues ranging from unclear communication to relationship terminations. Banks often cited a desire to limit exposure to the crypto industry as the reason for ending relationships. Speculation surrounds 'Operation Chokepoint 2.0,' allegedly aiming to restrict the industry's access to banking services. Recent letters from the FDIC to banks have fueled these concerns. Despite challenges, affected funds eventually found banking partners, mostly smaller institutions. Industry experts like Coinbase's John D’Agostino and Custodia Bank's Caitlin Long believe in the existence of this operation. The article also touches on market trends, legal battles, and the potential for new ETFs in the crypto space. Readers are advised to conduct their own research before engaging in cryptocurrency activities. Read more AI-generated news on: https://app.chaingpt.org/news