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Tyler Vinkalvoss says JP Morgan turned on hit pose Gemini Attempt to restore banking after the bank publicly criticized. Raw for him, the decision came immediately after posting a tweet Call out Major banks for Fight against Open banking reform. He believes in time Was not coincidence.
My tweet hit a nerve since last week. This week, JP Morgan told us that it was stopping his re-onboarding. @GEMNI As a customer, he closed us during Operation Chokpoint 2.0. They want we quietly try to take our … https://t.co/C9ls7QPAMT
– Tyler Vinkalwoss (@Tyler) 25 July, 2025
A tweet that changed everything
On July 19, Vinklevos alleged Bureau Open banking rules. He argued that banks were attached to prevent consumers from sharing own Data through platforms like Plad. Short after broadcasting your thoughts, Gemini The re -onboard talks with JP Morgan allegedly came to a standstill. Vinklevos saw it as a punishment for speaking out.
What is At stake for users and Fintech
The inauguration in the questions comes under Section 1033 of the Rules Section Financial Protection Act. It aims to control consumers on their financial data and Allow allow To share with apps and services on them They chose, Vinkalwos! Effort To turn This is in a pay-to-play model Add Fees, which will be In Small fintech and crypto platforms that Dependent But smooth Fiat-to-Crypto Transfer.
Is it about money or power?
Nap Was not prevent. Heford Banking Resistance as a win for his gatekeeper role in the financial system. In his view, Its Less about covering cost and more about control over data. He warned that the ban is pushing back not only through lobbying but also through legal action aimed at the purpose of delaying or wearing the rule.
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Other people in the industry return it
he is Not only a source. Arjun Sethi, Crackon Co-CEO, weighed with him own Criticism. He said that banks are treating access to user data like a product Be soldWhich can lock people in wall gardens. Nick Carter also tied the whole situation and said What is Often Operation is called Point 2.0, where crypto companies lose banking access without any. clear Explanation.
Gemini Banking History and Work -Around
Mithun had a connection with JP Morgan, before regulators pressured banks to remove Meselves from crypto firms in 2023 and 2024. it No For the first time, Vinkalvos twins had to axle. They The first replied by dealing with debanking issues and building international expansion and various payment rails.
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Jpmorgan’s Silence says a lot
Bank Do not invest Publicly commented Winklevos claim. In the past, JP Morgan has defined charging fees for access for his data infrastructure, and CEO Jamie Dimon Do not invest Crypto was really shy about her mistrust. Whether the break in discs was personal, political, or process, JP Morgan is silent for now.
it Is Part of a comprehensive fight on which go To control financial data. If the fee manufacturer is ideal, it makes new players difficult to compete, and users to connect their bank accounts independently with the services they want. The prefix of this conference can shape the future of open banking for years to come in the US.
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key takeaways
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Tyler Vinkalvoss says JP Morgan stopped Gender’s banking talks
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The dispute center on Section 1033, which gives consumers control their finance data and allow them to share it with apps.
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Vinkalwos and others claim that banks want to charge for data access, locking Fintech and Crypto platforms.
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The voice of the industry like Arjun Sethi and Nick Carter states that it reflects a wide push to limit Crypto’s access to banking services.
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JP Morgan has not responded publicly, but the deadlock highlights the increasing tension between traditional finance and crypto firms.
The Post Vinkalwos called JP Morgan on banking backlash, which first appeared on 99bitcoins.
