JPMorgan Shuts Down Strike CEO’s Accounts: Crypto Community Outraged
Strike CEO Jack Mallers alleged that JPMorgan Chase stopped his bank accounts last month without providing a clear explanation. Concerns regarding the debanking of cryptocurrency CEOs have been raised by this action.
Last month, J.P. Morgan Chase threw me out of the bank. It was bizarre. My dad has been a private client there for 30+ years.
Mallers
Mallers claimed that JPMorgan‘s sole response when he asked why his accounts had been closed was, “We aren’t allowed to tell you.”
Mallers Frames JPMorgan Letter After Unexpected Account Closure
Additionally, Mallers posted a picture of what looks to be a letter from JPMorgan Chase. “So proud I got it framed,” Mallers wrote. The bank had discovered questionable activity on Maller’s account, according to the letter.
We are committed to regulatory compliance and ensuring the security and integrity of the financial system. Because of this commitment, we may not be able to open new accounts for you in the future.
the letter
Users Say Operation Chokepoint 2.0 Still Targets Crypto CEOs
Users were skeptical of the X post in large numbers. Many said that despite the change in the White House administration, the purported Operation Chokepoint 2.0 is still going on. The term Operation Chokepoint 2.0 is an alleged coordinated attempt by federal banking authorities in the United States under the Biden administration. It asserts that these regulations put pressure on established financial institutions to refuse services to CEOs, companies, and people in the cryptocurrency ecosystem.
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