Key notes
- The dispute follows a Bloomberg report revealing JPMorgan’s decision to invoice Fintech companies to access customer bank data.
- Cameron Winklevoss warned that politics could “bankrupt fintechs” that support cryptographic transactions.
- The exchange of crypto and the banking giant have had a tense relationship for at least 2023.
Tyler Winklevoss, the co-founder of Crypto Exchange Gemini, recently criticized the banking giant Jpmorgan for preventing the exchange of crypto from the integration process after its public criticism of the new bank data policy.
In his article on July 25, Winklevoss called the alleged jpmorgan JPMorgan jpmorgan anti -competitive behavior, and something that could harm cryptographic and fintech companies. The latter dispute stems from a recent Bloomberg report. This reveals that JPMorgan began to charge financial technology companies to access customer bank data.
Commenting on this, the co-founder of the Gemini Cameron Winklevoss warned that he could “go bankrupt the fintechs” which allow the purchases of crypto. Commenting on similar lines, his twin brother, Tyler Winklevosswrote:
“My tweet last week struck a nerve. This week, Jpmorgan told us that, because of that, they were making a listening to Gemini as a customer after being out of boarding during the ChokePoint 2.0 operation.”
Winklevoss accuses JPMorgan of limiting Fintech access
Winklevoss accused JPMorgan of having tried to limit the capacity of consumers of freely accessing their banking data via third -party platforms. One of them is plaid, a service that connects financial accounts to various online applications and services. While addressing the chief of JPMorgan, he wrote:
“Sorry Jamie Dimon, we are not going to remain silent. We will continue to call this anti -competitive behavior and in search of rents and an immoral attempt to go bankrupt fintech and crypto societies. We will never stop fighting for what is right!”
Gemini and JPMorgan have had a tense relationship for years. In 2023, during the Biden administration, reports surfaced that the bank had asked Gemini to search for a new banking partner, citing concerns about profitability. However, the Crypto Exchange then denied complaints, declaring that their relationship with the banking partner remains intact.
This last accusation against JPMorgan occurs a month after the Crypto Exchange filed a first public offer (IPO) with the Securities and Exchange Commission of the United States. Details such as the number of actions to offer and the price range offered have not yet been disclosed.
With the improvement of the regulatory landscape of digital assets, JPMorgan makes daring movements. Last week, the bank giant said that he explored the installation to offer loans against cryptographic guarantees due to the high demand from customers.
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Bhushan is a fintech enthusiast and has a good flair in understanding the financial markets. Its interest in the economy and finance draws its attention to the new technology of emerging blockchain and the markets of cryptocurrencies. He is permanently in a learning process and motivates himself to share his acquired knowledge. In free time, he reads fiction novels to thriller and sometimes explores his culinary skills.
