Main notes
- The conflict follows the Bloomberg report revealing the JPMorgan decision to impose fees on technology companies to access customer bank data.
- Cameron Winkelvos has warned that policy can “bankruptcy of technology” that supports encryption transactions.
- The exchange of encryption and banking giant had a tense relationship since 2023.
Tyler Winkefus, co -founder of Crypto Exchange Gemini, recently criticized the JPMorgan banking giant to prevent encryption exchange from the movement after his general criticism of the bank’s new data policy.
In his post on July 25, Winklevoss called the alleged JPMorgan behavior of anti -competition behavior, something that could harm encryption companies and technology. This last conflict arises from the latest Bloomberg report. This reveals that JPMorgan began to impose financial technology companies to access customer banking data.
Commenting on this, the founder of Gemini, Cameron Winkelvos, warned that it could “be bankrupt” that allows the purchases of encryption. Comment on similar lines, his twin brother, Tyler Winkelvosbooks:
“A tweet from last week hit a nerve. This week, Jpmorgan told us that because of this, they stopped restarting Gemini as a client after they laughed during CokkePoint 2.0.”
Winklevoss Jpmorgan is accused of limiting Fintech’s arrival
Winklevoss Jpmorgan was accused of trying to reduce consumers’ ability to access their banking data through third -party platforms freely. One of them is engraved, a service linking financial accounts with various applications and services online. While addressing the president of JPMorgan, he wrote:
“Sorry Jimmy Damon, we will not remain silent. We will continue to call this anti -competition behavior and search for rent and an unethical attempt to bankrupt technology and encryption companies. We will never stop fighting for what is true!”
Gemini and JPMorgan had a tense relationship for years. In 2023, during the Biden administration, reports appeared that the bank asked Gemini to search for a new banking partner, pointing to fears about profitability. However, the encryption exchange later denied the claims, saying that their relationship with the banking partner was still sound.
This last accusation comes against Jpmorgan after a month after the introduction of ExchandE Crypto to obtain a preliminary general offer (IPO) with the US Securities and Stock Exchange Committee (SEC). Details such as the number of shares to be offered and the proposed price range has not yet been revealed.
With the improvement of the regulatory scene of digital assets, JPMorgan makes some bold moves. Last week, the banking giant said that the facility explores loans against Crypto Gunateal because of the strong customer’s request.
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Bhushan is enthusiastic about technology and carries a good tendency to understand the financial markets. His interest in the economy and financing draws his attention towards emerging technology markets and emerging technology. He is in a continuous educational process and keeps himself excited to share his acquired knowledge. In spare time he reads fictional excitement novels and sometimes explores his cooking skills.
The post Why Is JPMorgan Blocking Crypto Exchange Gemini? first appeared on Investorempires.com.
