Tyler Winklevoss, co-founder of the crypto exchange Gemini, says JPMorgan Chase abruptly halted the company’s re-onboarding process after he publicly criticized the bank’s latest data-sharing policy. Winklevoss claims the decision was direct retaliation for his post accusing JPMorgan of anti-competitive tactics that could damage the fintech and crypto industries.

In a social media post, Winklevoss said JPMorgan’s pause was linked to his outspoken remarks against the bank’s reported plan to charge fintech companies for access to customer bank data. He warned the move could cripple services like Plaid, which help consumers connect their bank accounts with digital finance apps.

The controversy comes amid broader scrutiny of big banks’ treatment of crypto firms. Winklevoss cited this as a continuation of "Operation ChokePoint 2.0," a term used by crypto insiders to describe alleged coordinated efforts by traditional financial institutions to cut off banking access for the digital asset sector.

JPMorgan and Gemini have had a tense relationship for years. In 2023, under President Biden’s administration, the bank reportedly pressured Gemini to find another banking partner, citing profitability issues. Gemini denied those claims, stating its JPMorgan relationship remained intact.

Winklevoss didn’t hold back, directly criticizing JPMorgan CEO Jamie Dimon and vowing to continue speaking out against what he described as “immoral” efforts to undermine crypto innovation.

The Gemini founders, Tyler and Cameron Winklevoss, have also aligned themselves politically with Donald Trump. Their past crypto donations to his campaign were returned after surpassing legal limits.

Meanwhile, Gemini is preparing to go public, having filed for an IPO with the SEC. The offering details are still pending. Founded in 2014, Gemini was last valued at $7.1 billion following a $400 million funding round in 2021.