{"id":38920,"date":"2025-07-26T13:01:56","date_gmt":"2025-07-26T13:01:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=38920"},"modified":"2025-07-26T13:01:56","modified_gmt":"2025-07-26T13:01:56","slug":"winklevoss-calls-out-jpmorgan-over-banking-backlash","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=38920","title":{"rendered":"Winklevoss Calls Out JPMorgan Over Banking Backlash"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Tyler Winklevoss says JPMorgan hit pause on <\/span><span data-preserver-spaces=\"true\">Gemini\u2019s<\/span><span data-preserver-spaces=\"true\"> attempt to restore banking access after he publicly criticized the bank. <\/span><span data-preserver-spaces=\"true\">According to him, the decision came shortly after he posted a tweet <\/span><span data-preserver-spaces=\"true\">calling out<\/span><span data-preserver-spaces=\"true\"> major banks for <\/span><span data-preserver-spaces=\"true\">fighting against<\/span><span data-preserver-spaces=\"true\"> open banking reforms.<\/span><span data-preserver-spaces=\"true\"> He believes the timing <\/span><span data-preserver-spaces=\"true\">wasn\u2019t<\/span><span data-preserver-spaces=\"true\"> a coincidence.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">My tweet from last week struck a nerve. This week, JPMorgan told us that because of it they were pausing their re-onboarding of <a href=\"https:\/\/twitter.com\/Gemini?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">@Gemini<\/a> as a customer after they off-boarded us during Operation ChokePoint 2.0. They want us to stay silent while they quietly try to take away your\u2026 <a href=\"https:\/\/t.co\/c9Ls7QpAmT\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/c9Ls7QpAmT<\/a><\/p>\n<p>\u2014 Tyler Winklevoss (@tyler) <a href=\"https:\/\/twitter.com\/tyler\/status\/1948815012488995001?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">July 25, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span data-preserver-spaces=\"true\">A Tweet That Changed Everything<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">On July 19, Winklevoss accused the banking industry of trying to gut the Consumer Financial Protection <\/span><span data-preserver-spaces=\"true\">Bureau\u2019s<\/span><span data-preserver-spaces=\"true\"> Open Banking Rule. He argued that banks were attempting to block consumers from sharing their <\/span><span data-preserver-spaces=\"true\">own<\/span><span data-preserver-spaces=\"true\"> data through platforms like Plaid. Shortly after airing his views, <\/span><span data-preserver-spaces=\"true\">Gemini\u2019s<\/span><span data-preserver-spaces=\"true\"> re-onboarding talks with JPMorgan reportedly stalled. Winklevoss saw it as punishment for speaking out.<\/span><\/p>\n<figure id=\"attachment_264298\" aria-describedby=\"caption-attachment-264298\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-264298\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/07\/Winklevoss-Calls-Out-JPMorgan-Over-Banking-Backlash.jpg\" alt=\"Winklevoss Calls Out JPMorgan Over Banking Backlash\" width=\"1000\" height=\"667\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/07\/Winklevoss-Calls-Out-JPMorgan-Over-Banking-Backlash.jpg 1000w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/07\/Winklevoss-Calls-Out-JPMorgan-Over-Banking-Backlash-300x200.jpg 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/07\/Winklevoss-Calls-Out-JPMorgan-Over-Banking-Backlash-768x512.jpg 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/07\/Winklevoss-Calls-Out-JPMorgan-Over-Banking-Backlash-50x33.jpg 50w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-264298\" class=\"wp-caption-text\">Source: Shutterstock<\/figcaption><\/figure>\n<h2><span data-preserver-spaces=\"true\">What\u2019s<\/span><span data-preserver-spaces=\"true\"> at Stake for Users and Fintechs<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The open banking rule in question falls under <a class=\"general-link\" href=\"https:\/\/www.consumerfinance.gov\/personal-financial-data-rights\/\" target=\"_blank\" rel=\"nofollow noopener\">Section 1033 of the Consumer Financial Protection Act<\/a>. <\/span><span data-preserver-spaces=\"true\">It aims to give consumers control over their financial data and <\/span><span data-preserver-spaces=\"true\">allow<\/span><span data-preserver-spaces=\"true\"> them to share it with apps and services <\/span><span data-preserver-spaces=\"true\">they choose<\/span><span data-preserver-spaces=\"true\">.<\/span> <span data-preserver-spaces=\"true\">Winklevoss argues that banks are <\/span><span data-preserver-spaces=\"true\">trying<\/span><span data-preserver-spaces=\"true\"> to <\/span><span data-preserver-spaces=\"true\">turn<\/span><span data-preserver-spaces=\"true\"> this into a pay-to-play model by <\/span><span data-preserver-spaces=\"true\">adding<\/span><span data-preserver-spaces=\"true\"> fees, which would <\/span><span data-preserver-spaces=\"true\">hurt<\/span><span data-preserver-spaces=\"true\"> smaller fintechs and crypto platforms that <\/span><span data-preserver-spaces=\"true\">depend<\/span><span data-preserver-spaces=\"true\"> on <\/span><span data-preserver-spaces=\"true\">smooth<\/span><span data-preserver-spaces=\"true\"> fiat-to-crypto transfers.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Is This About Money or Power?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Winklevoss <\/span><span data-preserver-spaces=\"true\">didn\u2019t<\/span><span data-preserver-spaces=\"true\"> hold back. He framed the <\/span><span data-preserver-spaces=\"true\">banks\u2019<\/span><span data-preserver-spaces=\"true\"> resistance as a way to protect their gatekeeper role in the financial system. In his view, <\/span><span data-preserver-spaces=\"true\">it\u2019s<\/span><span data-preserver-spaces=\"true\"> less about covering costs and more about keeping control over data. He warned that banks are pushing back not just through lobbying but through legal action aimed at delaying or weakening the rule entirely.<\/span><\/p>\n<div class=\"cpp-crypto-chart cpp-crypto-chart-99btc cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC Price (USD)\" data-main-color=\"#4caf05\" data-watermark-image=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/99bitcoins-logo.png\" data-chart-style=\"99btc\">\n<div class=\"cpp-chart-top-section\">\n<div class=\"cpp-chart-info-section\">\n<div class=\"cpp-chart-logo\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\"><\/div>\n<div class=\"cpp-chart-coin-details\">\n<div class=\"cpp-chart-labels-row\">\n<div class=\"cpp-chart-coin-name\">Bitcoin<\/div>\n<div class=\"cpp-chart-price-info\">Price<\/div>\n<div class=\"cpp-chart-market-cap\">Market Cap<\/div>\n<\/div>\n<div class=\"cpp-chart-values-row\">\n<div class=\"cpp-chart-coin-symbol\">BTC<\/div>\n<div class=\"cpp-chart-price\"><\/div>\n<div class=\"cpp-chart-market-cap-value\">$2.34T<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"cpp-chart-selectors cpp-chart-selectors-99btc\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24h<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7d<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30d<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1y<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div>\n<\/div>\n<p><canvas id=\"cpp-chart-6884ab5fe4b0f\" class=\"cpp-chart-container cpp-chart-container-99btc\"><\/canvas><\/div>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in July2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Others in the Industry Back Him Up<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">He\u2019s<\/span><span data-preserver-spaces=\"true\"> not the only one sounding the alarm. Arjun Sethi, <\/span><span data-preserver-spaces=\"true\">Kraken\u2019s<\/span><span data-preserver-spaces=\"true\"> co-CEO, weighed in with his <\/span><span data-preserver-spaces=\"true\">own<\/span><span data-preserver-spaces=\"true\"> criticism. He said banks are treating access to user data like a product to <\/span><span data-preserver-spaces=\"true\">be sold<\/span><span data-preserver-spaces=\"true\">, which could lock people into walled gardens. Nic Carter also chimed in, tying the whole situation to <\/span><span data-preserver-spaces=\"true\">what\u2019s<\/span><span data-preserver-spaces=\"true\"> often called Operation Choke Point 2.0, where crypto companies lose banking access without a <\/span><span data-preserver-spaces=\"true\">clear<\/span><span data-preserver-spaces=\"true\"> explanation.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Gemini\u2019s<\/span><span data-preserver-spaces=\"true\"> Banking History and Workarounds<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Gemini had a relationship with JPMorgan before regulators began pressing banks to distance themselves from crypto firms in 2023 and early 2024. Since then, the company has been seeking alternative banking partners. <\/span><span data-preserver-spaces=\"true\">This<\/span> <span data-preserver-spaces=\"true\">wouldn\u2019t<\/span><span data-preserver-spaces=\"true\"> be the first time the Winklevoss twins had to pivot. <\/span><span data-preserver-spaces=\"true\">They\u2019ve<\/span><span data-preserver-spaces=\"true\"> dealt with debanking issues before and responded by expanding internationally and building out different payment rails.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">JPMorgan\u2019s<\/span><span data-preserver-spaces=\"true\"> Silence Says a Lot<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The bank <\/span><span data-preserver-spaces=\"true\">hasn\u2019t<\/span><span data-preserver-spaces=\"true\"> commented publicly on <\/span><span data-preserver-spaces=\"true\">Winklevoss\u2019s<\/span><span data-preserver-spaces=\"true\"> claim. In the past, JPMorgan has defended charging fees for access to its data infrastructure, and CEO Jamie Dimon <\/span><span data-preserver-spaces=\"true\">hasn\u2019t<\/span><span data-preserver-spaces=\"true\"> exactly been shy about his distrust of crypto. Whether the pause in discussions was personal, political, or procedural, JPMorgan is keeping quiet for now.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This<\/span> <span data-preserver-spaces=\"true\">is <\/span><span data-preserver-spaces=\"true\">part of a wider fight over who <\/span><span data-preserver-spaces=\"true\">gets<\/span><span data-preserver-spaces=\"true\"> to control financial data. If fees become the norm, it could make it harder for new players to compete, and for users to freely connect their bank accounts to the services they want. The outcome of this conflict could shape the future of open banking in the U.S. for years to come.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Tyler Winklevoss says JPMorgan halted Gemini\u2019s banking talks after he criticized banks for opposing open banking rules.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The dispute centers on Section 1033, which gives consumers control over their financial data and lets them share it with apps.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Winklevoss and others claim banks want to charge fees for data access, locking out fintechs and crypto platforms.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Industry voices like Arjun Sethi and Nic Carter say this reflects a wider push to limit crypto access to banking services.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        JPMorgan hasn\u2019t responded publicly, but the standoff highlights growing tension between traditional finance and crypto firms.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/winklevoss-says-jpmorgan-blocked-gemini-over-open-banking\/\">Winklevoss Calls Out JPMorgan Over Banking Backlash<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tyler Winklevoss says JPMorgan hit pause on Gemini\u2019s attempt to restore banking access after he publicly criticized the bank. According to him, the decision came shortly after he posted a tweet calling out major banks for fighting against open banking reforms. He believes the timing wasn\u2019t a coincidence. My tweet from last week struck a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-38920","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/38920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38920"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/38920\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}