JPMorgan Closes Strike CEO’s Accounts Amid Crypto Debanking Controversy
JPMorgan Chase abruptly terminated the personal accounts of Strike CEO Jack Mallers, citing unspecified "concerning activity." The move has sparked backlash from the crypto community, with Mallers alleging discrimination despite a federal executive order banning such debanking practices.
The August order, signed by former President Trump, explicitly prohibited banks from closing accounts based on vague "reputational risk" concerns related to cryptocurrency. Mallers' case highlights a growing tension between policy directives and real-world banking practices.
Industry observers note this incident reflects broader challenges facing crypto executives in traditional finance. The opaque nature of JPMorgan's decision—offering no detailed explanation—has fueled suspicions of ongoing bias against digital asset innovators.
