Winklevoss Accuses JPMorgan of Blocking Gemini’s Onboarding Process
Tyler Winklevoss, co-founder of Gemini, criticized JPMorgan for halting the onboarding process of Gemini following his comments on the bank's new data policy. He labeled this action anti-competitive and detrimental to crypto and fintech firms.
- Winklevoss mentioned that JPMorgan began charging fintechs for access to customer banking data.
- Cameron Winklevoss warned this could "bankrupt fintechs" enabling crypto purchases.
- Tyler Winklevoss stated that JPMorgan paused their re-onboarding due to his tweet criticizing them.
Winklevoss Accuses JPMorgan of Limiting FinTech Access
Winklevoss claimed JPMorgan is restricting consumer access to banking data via third-party services like Plaid. He expressed ongoing opposition to what he described as anti-competitive practices.
- Gemini has faced issues with JPMorgan in the past, including a suggestion to find a new banking partner due to profitability concerns.
- Gemini filed for an initial public offering (IPO) with the SEC but has not disclosed share details or pricing.
- JPMorgan is exploring offering loans against crypto collateral amid strong client demand.