- JPMorgan halts Gemini re-onboarding after Winklevoss criticism.
- Impacts open banking access debate.
- Concerns about fiat gateways increase.
JPMorgan Chase & Co. has reportedly paused its efforts to re-onboard Gemini as a client following public criticism from Gemini’s co-founder Tyler Winklevoss, as revealed on July 25, 2025.
The action highlights tensions between financial institutions and crypto firms over data access reforms and raises concerns about potential impacts on exchange liquidity and fiat-crypto gateways.
Tyler Winklevoss criticized JPMorgan over US open banking policies. The bank then paused re-onboarding Gemini. Historically, such actions have impacted crypto exchanges, highlighting potential fiat access issues.
Tyler Winklevoss of Gemini claims JPMorgan reacted to his public criticism, addressing Jamie Dimon directly. As a significant exchange, Gemini’s status with large banks like JPMorgan affects its operations.
Concerns are rising in the crypto community about potential decreases in liquidity for core assets like BTC and ETH. Such banking relationships are crucial for exchanges’ operational efficiency.
The halt brings potential implications for fiat access and raises questions on how large banks interact with cryptocurrency platforms. This situation reflects broader tensions between banks and open banking advocates.
The event sparks debates on bank influence over crypto-fiat gateways. Such disruptions historically heighten demand for stablecoins and create friction for centralized exchange users.
“My tweet from last week struck a nerve. This week, JPMorgan told us that because of it they were pausing their re-onboarding of @Gemini 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 right to access your banking data for free. Sorry, Jamie Dimon, we’re not going to stay silent.” – Tyler Winklevoss, Co-Founder, Gemini
