What is the Fidelity controversy?

Could you elaborate on the Fidelity controversy? I've heard about it, but I'm not entirely clear on the details. I understand there's been some talk about Fidelity Investments' involvement in cryptocurrency and their subsequent actions, but I'm interested in hearing a more comprehensive explanation. Specifically, what sparked the controversy, and what were the main points of contention? Additionally, how did the public and the industry react to these developments, and what impact did they have on Fidelity's reputation and standing in the market?