Crypto firms are finding it increasingly hard to maintain banking partners.
Photographer: Andy Sacks/The Image BankIn this edition of the Bloomberg Crypto newsletter, Yueqi Yang explores the shrinking pathway between crypto and hard cash:
The ideal of crypto means not having to rely on banks and institutions. But the reality of the industry, at least today, is that many digital-asset companies need traditional finance firms to help provide customers with a reliable on-and-off ramp between their platforms and the world of hard currency. Therein lies a growing problem.
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Crypto Needs Banks More Than Banks Need Them
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