JPMorgan Accused of Blocking Gemini Over CEO’s Public Criticism

JPMorgan Chase faces allegations of retaliatory action against cryptocurrency exchange Gemini following public criticism by its co-founder Cameron Winklevoss. The dispute underscores escalating tensions between traditional financial institutions and the crypto sector.

The conflict originated from JPMorgan's proposed fee structure for fintech companies accessing customer banking data, which Winklevoss decried as "anti-competitive" in social media posts targeting CEO Jamie Dimon. The bank reportedly paused Gemini's re-onboarding process days after these criticisms surfaced.

This incident occurs against the backdrop of what crypto industry participants describe as "Operation Choke Point 2.0" - a perceived coordinated effort to restrict banking access for digital asset firms. JPMorgan's new data fee policy particularly impacts financial data aggregators that facilitate connections between traditional banking and crypto platforms.