Winklevoss Fires Back: Accuses JPMorgan of Retaliation in ’Bankster’ War Against Open Banking
Cameron Winklevoss just dropped a bombshell—JPMorgan’s allegedly retaliating against his criticism of their 'bankster' tactics in the open banking fight. Here’s the explosive breakdown.
The Accusation:
Winklevoss claims the banking giant is punishing him for calling out their anti-crypto crusade. No proof yet—just Wall Street drama at its finest.
The Context:
This isn’t Winklevoss’s first rodeo. He’s been a vocal critic of traditional finance’s 'closed-door' policies while pushing crypto as the future. JPMorgan? Not a fan.
Why It Matters:
If true, this could fuel the fire for crypto advocates demanding transparency. If false? Just another day in banking’s 'trust us, we’re professionals' circus.
The Punchline:
Either way, it’s a reminder—when banks and crypto clash, the only certainty is a headline-grabbing mess. Stay tuned.
The cause
The July 19 post that he said “struck a nerve” accused large banks of fighting the US Consumer Financial Protection Bureau’s (CFPB) open‑banking rule under Section 1033 of the Consumer Financial Protection Act.
That rule, still being implemented, WOULD guarantee consumers free third-party access to their account data through aggregators such as Plaid.
Plaid is a conduit many Americans use to connect their checking accounts with crypto platforms, including Gemini,, and.
Winklevoss alleged that JPMorgan and other institutions want to replace free data feeds with “exorbitant fees,” a shift he warned would “bankrupt fintechs” and stifle the on‑ramp that lets retail customers fund crypto purchases with dollars.
Strangling the crypto industry
He framed the banks’ lawsuit against the CFPB as an example of “egregious regulatory capture” and cast the fight as a direct challenge to President stated goal of making the US “the crypto capital of the world.”
JPMorgan has not publicly addressed Winklevoss’s allegations.
Several exchanges lost long-standing accounts in 2023 and early 2024 amid heightened regulatory scrutiny, forcing them to seek new partners or international workarounds.
Gemini, which previously used JPMorgan for corporate banking, has been courting new and former providers as it expands its international derivatives venue and bids for broader US offerings.
Some crypto voices, such as CoinMetrics co-founder, LINK these actions to a series of enforcement actions by banking authorities under the former Presidentadministration, known as Operation Chokepoint 2.0.
Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill acknowledged a targeted effort from the agency towards “debanking” crypto firms.
During a speech in January, he deemed such actions “unacceptable.”
