According to the information provided by a person close to the subject, US banking giant JPMorgan (JPM) is owned by Cameron and Tyler Winklevoss. cryptocurrency exchange is ending its banking relationship with Gemini.
According to the Wall Street Journal’s report, JPMorgan accepted Gemini and the US-listed exchange Coinbase as clients in early 2020.
A spokesperson for the San Francisco-based exchange Coinbase confirmed that Coinbase’s banking relationship with JPMorgan is intact.
The crypto industry, which has been rocked by numerous scandals and crashes over the past year, is now facing increased regulatory scrutiny and greater challenges in accessing banking services.
JPMorgan declined to comment on the matter.
On Tuesday, FE Chairman Jerome Powell was asked about the auditors’ efforts to audit crypto.
Powell made the following statement to members of the Senate Banking Committee:
“Like everyone else, we’re watching what’s going on in the crypto space and what we’re seeing is quite a bit of turmoil. What we are doing is ensuring that the financial institutions we supervise and regulate are vigilant, take great care in the way they engage with the entire crypto space, and give us advance notice.”
However, in the recent developments, many crypto money companies have announced that they will stop working with Silvergate, a crypto-focused bank. Banking ties, which are very important for the continuity of stablecoin companies in particular, continue to occupy the agenda of the crypto world recently.
*Not investment advice.
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