JPMorgan Slaps Gemini with a Freeze – Crypto World Reacts!

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So, here we are. Wall Street’s big dog, JPMorgan, has decided to put the brakes on its banking revival plans with Gemini, one of the top crypto exchanges in the good ol’ U.S. of A.

Now, I bet you’re wondering, “What’s the deal, huh?” Well, grab a seat, because it’s not just about money; it’s about the data—yes, the data!

Gemini’s Tyler Winklevoss Takes JPMorgan to Task

On July 25, Tyler Winklevoss (yes, the Winklevoss twin, the one who doesn’t have a Facebook drama episode) said that JPMorgan had given the crypto platform the cold shoulder. No more banking love from them, folks.

Now, this isn’t exactly a surprise. Remember the time when crypto was getting the ol’ “Operation Chokepoint 2.0” treatment? Banks were literally saying, “Get out of here!” to crypto firms, all while wearing a frown and calling it ‘risk management.’ But this time? Oh, it’s about data, baby—data rights, to be exact.

Winklevoss has been on a mission, calling out JPMorgan for trying to charge fintech companies just to access your banking data. Yep, the same data you thought was yours to control. Well, surprise, surprise, JPMorgan thinks you should pay for that privilege. What a world, right?

Last week, Tyler made it clear that these big banks, like JPMorgan, were all about imposing fees on fintechs. Why? Because fintechs are the cool kids who let you connect your bank accounts with things like Plaid (or is it Plaid, like the Scottish cloth, or is it just ‘fancy data?’ Anyway…).

These tech-savvy tools let you not only see your banking info but also move your money around to cool places—like, say, a crypto exchange. Sweet, right? JPMorgan though? Not so much.

“[JPMorgan] want us to stay silent while they quietly try to take away your right to access YOUR banking data for free through third-party fintechs like,” Winklevoss said, with the subtlety of a bull in a china shop.

Oh, Tyler, you didn’t hold back, did you? He claims JPMorgan’s just trying to keep all the good stuff for themselves—blocking the cool new tools that help you manage your finances smoothly. A classic move from the old guard trying to snuff out innovation.

Of course, Tyler isn’t backing down. No sir. He’s throwing down the gauntlet, saying, “Sorry, Jamie Dimon, we won’t keep quiet. We’ll keep calling you out on your rent-seeking, anti-competitive behavior. And we won’t stop fighting for the little guy!”

“Sorry Jamie Dimon, we’re not going to stay silent. We will continue to call out this anti-competitive, rent-seeking behavior and immoral attempt to bankrupt fintech and crypto companies. We will never stop fighting for what is right,” he declared, as if taking a stand in a cheesy movie.

Meanwhile, JPMorgan’s latest power move has sent ripples through the crypto and fintech communities. People are starting to wonder if this is just a little pushback from the traditional banking systems against the future of finance—the open systems that actually give you control over your own data. Sounds like a fight worth watching, right?

Lily Liu, the Solana Foundation President, has been a long-time believer in open systems. And she’s not about to let JPMorgan and their data-grabbers win. She’s confident that open systems will rule the digital world—no matter how many banks stand in the way.

“The ‘market’ the ‘user base’ – however one wants to put it – of humans on the internet and their assets is larger than any company/country or feasible coalition of companies/countries can muster,” she said, sounding like someone who knows what she’s talking about.

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2025-07-26 18:37