JPMorgan Accused of Blocking Crypto Exchange Over Public Criticism
Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini, claims JPMorgan Chase deliberately stopped his company’s banking application after he publicly criticized the bank’s new fee policy.
The dispute highlights growing tensions between traditional banks and the crypto industry.
The Triggering Event
The conflict began when Bloomberg reported on July 11 that JPMorgan would start charging fintech companies hundreds of millions of dollars to access customer banking data. These fees could increase costs for payment-focused companies by up to 1,000% for single transactions.
Winklevoss posted harsh criticism on social media platform X, calling JPMorgan’s move “anti-competitive” and claiming it would “bankrupt fintechs” that…
