The big banks better wake up to the risks with cryptocurrencies like Bitcoin, former HP CEO Carly Fiorina told TheStreet in an interview.

In many respects, the CEOs at these big banks should follow the lead of the Chinese government.

Earlier this week Chinese regulators banned businesses from raising funds using initial coin offerings (ICOs), the latest blockchain-related investing craze. This in turn has impacted the Bitcoin market.

Since then, many reports have surfaced on how the Bitcoin bubble has now officially burst. Only time will tell.

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