Gemini CEO Accuses JPMorgan of Retaliatory Banking Freeze Amid Data Access Dispute

Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini, has publicly condemned JPMorgan Chase for abruptly reversing plans to reinstate banking services. The decision follows months of tension between major financial institutions and fintech firms over control of customer financial data.

The conflict centers on JPMorgan's proposed fees for third-party access to banking data through platforms like Plaid. Winklevoss characterizes this as an attempt to stifle competition from fintech startups that rely on free data flows to provide seamless financial services, including cryptocurrency transactions.

This banking freeze represents the second major disruption for Gemini, which was previously affected during what crypto industry participants called "Operation Chokepoint 2.0"—a period when multiple banks severed ties with digital asset firms under regulatory pressure.