Institutional Crypto Faces Prospect of a Nuclear Winter

While digital currency prices endure what enthusiasts call a ‘crypto winter,’ the problem appears to be far more acute when it comes to institutional appetites. James Rundle and Rebecca Natale report.

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The coldest temperature in Chicago in over 30 years struck the city on January 30, 2019, when the mercury hit 23 below zero degrees Farenheit. However, that pales in comparison to the industry’s cooling enthusiasm for digital currencies. For financial firms in the Windy City looking to engage with cryptocurrencies, that chill is rapidly becoming an ice age.

The first frosts came with bitcoin’s precipitous fall from grace during 2018, when the price of a single coin plunged from $20,000 to less

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