Gemini co-founder Tyler Winklevoss has claimed that JPMorgan Chase paused the crypto trade’s onboarding course of after he publicly criticized the financial institution’s new coverage on monetary knowledge entry.
Key Takeaways:
- Tyler Winklevoss claims JPMorgan paused Gemini’s onboarding after he criticized the financial institution.
- He accused the financial institution of anti-competitive habits and attempting to dam client entry to crypto through third-party apps.
- The dispute surfaces as Gemini prepares for a possible IPO.
In a submit revealed Friday on X, Winklevoss stated JPMorgan responded to his current feedback by halting Gemini’s re-onboarding, a course of the financial institution initiated after beforehand ending the connection throughout what Winklevoss known as “Operation ChokePoint 2.0.”
The fallout follows a Bloomberg report that exposed JPMorgan’s plans to start charging fintech corporations for entry to buyer banking knowledge.
Winklevoss Slams Banking Guidelines as Anti-Crypto and Anti-Aggressive
Winklevoss, a longtime critic of banking restrictions on crypto, known as the transfer anti-competitive and warned that it may undermine corporations that facilitate entry to crypto markets.
Winklevoss additionally accused JPMorgan of attempting to restrict customers’ potential to share their very own monetary knowledge with third-party fintech providers like Plaid.
“We’ll proceed to name out this anti-competitive, rent-seeking habits and immoral try to bankrupt fintech and crypto corporations,” he wrote. “We’ll by no means cease preventing for what is correct!”
Gemini’s banking historical past with JPMorgan has been contentious. In 2023, reviews emerged that the financial institution had requested the crypto agency to hunt various banking companions, citing profitability points.
Gemini later denied these claims, stating that their relationship with JPMorgan remained in place regardless of the hypothesis.
My tweet from final week struck a nerve. This week, JPMorgan instructed us that due to it they had been pausing their re-onboarding of @Gemini as a buyer after they off-boarded us throughout Operation ChokePoint 2.0. They need us to remain silent whereas they quietly strive to remove your… https://t.co/c9Ls7QpAmT
— Tyler Winklevoss (@tyler) July 25, 2025
The Winklevoss twins, each politically aligned with Donald Trump, have taken an outspoken stance in current months as U.S. regulators enhance scrutiny of crypto platforms.
Their contributions to Trump’s 2024 presidential marketing campaign had been returned earlier this yr after the donations exceeded federal limits.
The newest dispute with JPMorgan comes at a vital time for Gemini. The trade confidentially filed for an preliminary public providing with the U.S. Securities and Alternate Fee final month. Particulars on share pricing and providing measurement haven’t but been disclosed.
Based in 2014, Gemini raised $400 million in a November 2021 funding spherical, reaching a valuation of $7.1 billion.
$500K Membership: Crypto and Political Elites Unite at DC’s Government Department
As reported, a brand new personal membership in Washington, D.C. known as Government Department, co-founded by Donald Trump Jr., David Sacks, and Gemini’s Winklevoss twins, is charging $500,000 for membership.
The membership, situated in Georgetown, is ready to open quickly and already has a ready record.
Its launch celebration drew main political and tech figures, together with Secretary of State Marco Rubio and SEC Chairman Paul Atkins, underscoring the membership’s aim of mixing political energy, crypto affect, and elite networking.
At $500,000, Government Department is among the priciest personal golf equipment within the U.S., surpassing venues like Aman Membership.
The founders goal to place it as a hub for conservative crypto leaders searching for shut ties to regulators and lawmakers.
Membership is extremely selective, requiring referrals and background checks.
Regardless of provides as excessive as $1 million for early entry, some candidates have been reportedly rejected.
The submit Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism appeared first on Cryptonews.