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Tyler Winklevoss Calls Out JPMorgan for Blocking Gemini Exchange Over Tweet
Tyler Winklevoss has accused JPMorgan Chase of halting Gemini’s re-onboarding process in retaliation for his public criticism of the bank’s new data access fees. The dispute originated from a tweet by Winklevoss, who called the fee structure “anti-competitive” and claimed it would “bankrupt fintechs that help you link your bank accounts to crypto companies.”
JPMorgan announced its decision to charge fintech companies for access to customer banking data, citing concerns over the misuse of this sensitive information. The bank stated that implementing fees will allow it to better control which companies can access user data and ensure requests are legitimate. Winklevoss disagrees with JPMorgan’s stance, labeling it as an “egregious regulatory capture that kills innovation, hurts the American consumer, and is bad for America.”
According to Winklevoss, Gemini’s re-onboarding process was paused by JPMorgan due to his criticism of the fee structure. This development comes amid Gemini’s efforts to expand its services beyond basic cryptocurrency trading, including the introduction of tokenized stocks and plans for crypto derivatives trading in Europe through a new license.
As Gemini continues to operate despite this banking challenge, Winklevoss emphasized that he will keep criticizing what he views as anti-competitive banking practices.
Source: coincentral.com
