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Gemini slams JPMorgan for anti-competitive crypto market behavior
Gemini co-founder Tyler Winklevoss claims that banking giant JPMorgan halted the crypto exchange’s registration process in retaliation for public criticism.
Winklevoss alleged that JPMorgan paused Gemini’s client onboarding because of his critical post regarding the bank’s new policy on customer data access. The dispute stems from a Bloomberg report that JPMorgan would begin charging fintech firms for accessing clients' banking data.
According to Winklevoss, this move could bankrupt crypto-related fintechs, a concern he shared on platform X. In a follow-up post, he claimed that JPMorgan responded by halting Gemini’s registration, explicitly stating his criticism as the reason.
“My tweet last week struck a nerve. This week, JPMorgan told us they’re halting Gemini’s re-engagement because of it, after dropping us during Operation Chokepoint 2.0,” he wrote.
Long-strained relations
As reported by Cointelegraph, Gemini’s relationship with JPMorgan has been strained for years. In 2023, during the Biden administration, the bank allegedly urged Gemini to find another banking partner over concerns about profitability — though Gemini denied this at the time.
Now, Winklevoss directly accuses JPMorgan of trying to limit consumer access to financial data through platforms like Plaid — a third-party service that connects apps with financial accounts.
“Sorry, Jamie Dimon, we won’t be silenced. We’ll keep exposing this anti-competitive behavior, greedy gatekeeping, and immoral attempts to bankrupt fintech and crypto firms. We will never stop fighting for fairness!” said Winklevoss.
The conflict may also impact Gemini’s recent IPO application, filed just last month.
As we wrote, Gemini and Coinbase ready to obtain licenses in EU
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