In an alarming trend, the Wall Street Journal (WSJ) reports that approximately 120 cryptocurrency hedge funds have faced significant difficulties in accessing banking services over the past three years. While alternative investment firms in asset classes like real estate and private credit have not encountered similar obstacles, the crypto industry has been met with resistance from financial institutions. The banking issues experienced by crypto hedge funds ranged from unclear communication to abrupt relationship terminations. Strikingly, around half of the affected funds were informed by their banks that their services would be terminated without clear justifications. Banks often cited concerns about exposure to crypto clients or the industry as reasons for their decisions. The situation is reminiscent of the "de-banking" saga of 2022, when the Federal Deposit Insurance Corp. (FDIC) sent a letter to banks urging them to "cease and desist all activities involving crypto." This directive has likely contributed to the banking challenges faced by crypto hedge funds. The lack of banking access poses a significant hurdle for crypto hedge funds, limiting their ability to operate effectively and hindering the growth of the broader cryptocurrency ecosystem.