A version of this story will appear in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here.
New York
—
This was supposed to be the year cryptocurrency, a 16-year-old asset that promised to be the future of finance, came into its own.
The multi-trillion-dollar industry got just about everything on its wish list over the past year: a rush of new money from mainstream investors, industry-approved bipartisan legislation in Congress, a rubber-stamp regulatory apparatus, and, not least, the full-throated support of the president of the United States.
Despite that, crypto has had a rough…
