While the Crypto Assets industry is thriving, a long-standing issue has always troubled the entrepreneurs in this field: the storage and management of financing funds. This seemingly simple problem has become exceptionally tricky due to the attitude of Financial Institutions towards the encryption industry.

A crypto entrepreneur in New York is facing an unexpected challenge after successfully raising $19 million in seed funding for his startup: how to securely store this capital. After seeking legal advice, the answer he received was frustrating: opening a bank account in the U.S. is almost an impossible task.

In the next six months, this entrepreneur experienced rejections from multiple American banks and ultimately had to find an alternative path. He deposited part of his funds in a bank in the Cayman Islands, with no interest earnings; the remaining funds were converted into Crypto Assets and entrusted to a third-party Financial Institution for management. Although this approach alleviated the immediate crisis, it was far from an ideal choice.

This predicament is not an isolated case. For a long time, founders in the Crypto Assets industry have faced similar dilemmas: either being denied basic financial services by American banks or facing the risk of sudden account freezes. The lack of reliable banking partners makes the daily operations of crypto enterprises exceptionally difficult. They are unable to conveniently conduct transactions in USD, securely store investors' funds and earn interest, and even paying employee salaries and vendor payments has become a challenge.

However, with the changing political climate, this situation seems to be turning a corner. Recently, some Financial Institutions have begun to try to provide more friendly services for Crypto Assets companies, which may indicate an improvement in the industry environment. Nevertheless, the gap between Crypto Assets companies and the TradFi system still exists, requiring more effort and innovation to bridge.

In the face of this situation, some Crypto Assets entrepreneurs are beginning to think about alternatives. Some have proposed the establishment of banks specifically serving the Crypto Assets industry, while others are calling for regulators to introduce clearer guidelines. In any case, solving this problem is not only related to the development of individual enterprises but is also key to the healthy growth of the entire Crypto Assets industry.

As cryptocurrency and blockchain technology continue to evolve, the relationship between traditional financial institutions and emerging crypto enterprises will remain a focus of attention. How to find a balance between innovation and risk control, and how to establish mutual trust and cooperation are important issues that need to be addressed in the future. Only when these obstacles are overcome one by one can the crypto industry truly realize its potential to revolutionize the financial system.