JPMorgan Pauses Gemini Re-Onboarding Amid Banking Data Dispute

JPMorgan Chase has halted the re-onboarding process for cryptocurrency exchange Gemini following public criticism from co-founder Tyler Winklevoss. The tension stems from a new JPMorgan policy requiring fintech firms to pay for access to customer banking data—a move Winklevoss argues creates operational barriers for digital asset platforms.

The conflict marks another escalation in the ongoing friction between traditional banks and crypto businesses. Gemini was previously offboarded during regulatory pressures under what industry participants call 'Operation Choke Point 2.0.' The exchange's reliance on seamless banking data flows for crypto transactions now faces fresh challenges as institutional power dynamics play out.

Winklevoss's vocal opposition appears to have triggered retaliatory action, with JPMorgan explicitly citing his comments as the reason for pausing re-onboarding. The standoff highlights growing tensions between legacy financial institutions and crypto-native companies seeking unfettered access to banking infrastructure.