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JPMorgan Faces Backlash as Bitcoin and MSTR Supporters Close Accounts
JPMorgan Under Fire – A growing “boycott JPMorgan” campaign is sweeping across social media as crypto users report closing their accounts and urging others to do the same. What began as frustration over perceived attacks on Bitcoin and Strategy (MSTR) shareholders has escalated into a broader backlash fueled by newly resurfaced allegations connected to Jeffrey Epstein.
Why Crypto Users Are Turning Against JPMorgan
The uproar erupted after reports that MSCI plans to remove several crypto treasury firms, including Strategy (formerly MicroStrategy), from its indexes beginning January 2026. The potential exclusion was highlighted in a JPMorgan research note, which suggested that such firms could be reclassified as investment funds.
According to JPMorgan’s analysis, this shift could trigger $2.8 billion in outflows, potentially rising to $8.8 billion if additional index providers follow suit.
Crypto advocate Max Keiser amplified the controversy, pointing to unconfirmed claims that JPMorgan is holding a short position in MSTR, warning that the bank’s exposure could become problematic if MSTR rallies 50% above last Friday’s closing price.
One crypto watchdog accused the bank of opportunistic timing, writing:
“JP Morgan dumps 25% of their MSTR position right before MSCI announces Bitcoin companies can’t enter major indexes… The game is rigged, but Bitcoin doesn’t care about their indexes.”
As distrust deepens, Bitcoin and Strategy supporters are urging users to pull their money from the bank. Keiser echoed the sentiment with a bold message:
“CRASH JP MORGAN, BUY MSTR (& BITCOIN).”
Epstein Allegations Rekindle Public Anger
The boycott has expanded beyond crypto concerns, now fueled by renewed scrutiny of JPMorgan’s alleged ties to Jeffrey Epstein. Recently unsealed Senate documents revealed that the bank submitted a Suspicious Activity Report (SAR) in 2019 after Epstein’s death, identifying 4,700 transactions totaling more than $1 billion.
JPMorgan spokesperson Patricia Wexler maintained that the bank filed SARs “as required,” but the Senate Finance Committee disputes this. Ranking Member Ron Wyden argued that JPMorgan reported only minimal red flags while Epstein was alive — just over $4.3 million in suspicious activity — compared with nearly $1.3 billion reported after his death.
Wyden stated:
“It’s clear that JPMorgan Chase ought to face criminal investigation… This goes beyond a total compliance breakdown.”
Mounting Pressure Ahead of Key 2026 Index Changes
With the boycott movement gaining momentum and Senate scrutiny intensifying, JPMorgan faces growing pressure from both crypto communities and lawmakers. The months ahead — particularly as the 2026 MSCI reclassification approaches — will determine whether this backlash fades or evolves into a deeper challenge to the bank’s influence and reputation.
