The post JPMorgan Accused of Blocking Crypto Exchange Over Public Criticism appeared on BitcoinEthereumNews.com.

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 help people connect bank accounts to crypto platforms. He specifically targeted CEO Jamie Dimon, saying the policy would harm American consumers and innovation. Source: @tyler The Alleged Retaliation Six days later, Winklevoss made a more serious claim. He said JPMorgan told Gemini it was pausing the crypto exchange’s re-onboarding process specifically because of his public criticism. “My tweet from last week struck a nerve. This week, JPMorgan told us that because of it they were pausing their re-onboarding of Gemini as a customer,” Winklevoss wrote on X. Gemini had previously lost its JPMorgan banking relationship during what the crypto industry calls “Operation Choke Point 2.0” – a period when many crypto companies lost banking access under regulatory pressure. JPMorgan’s Data Fee Policy JPMorgan’s new fee structure targets data aggregators like Plaid, which connect banks to fintech apps. When customers move money from JPMorgan to crypto exchanges or apps like Venmo, these aggregators help process the transfers. The bank says it receives nearly 2 billion monthly data requests, with over 90% unrelated to actual customer activity. JPMorgan stated it invested significant resources creating secure systems and wants companies to pay for accessing this infrastructure. Industry executives warn the fees could…

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Filed under: News - @ July 27, 2025 9:21 pm