Tyler Winklevoss, co-founder of crypto exchange Gemini, has publicly accused JPMorgan Chase of halting the company’s onboarding process in retaliation for his recent criticism of the bank’s new fintech data access policy.

In a fiery post on X (formerly Twitter), Winklevoss claimed that JPMorgan paused its re-onboarding of Gemini after he called out the bank’s “anti-competitive” fees for third-party data access.

“My tweet from last week struck a nerve,” Winklevoss wrote. “This week, JPMorgan told us that because of it, they were pausing their re-onboarding of Gemini.”

What Sparked the Conflict?

The tension centers around JPMorgan’s decision to charge fintech companies for access to customer banking data, as reported by Bloomberg. The new policy could significantly impact services like Plaid, which many crypto apps use to link user bank accounts.

Winklevoss argued that these new fees could “bankrupt fintechs” and limit consumer access to financial tools used in the crypto industry.

“Sorry Jamie Dimon, we’re not going to stay silent,” said Winklevoss. “We will continue to call out this rent-seeking behavior and immoral attempt to bankrupt fintech and crypto companies.”

Gemini and JPMorgan: A Rocky Relationship

This isn’t the first clash between the two companies. In 2023, during the Biden administration’s push to regulate crypto firms, reports surfaced that JPMorgan asked Gemini to find another banking partner, citing concerns over profitability.

At the time, Gemini denied those reports, saying their relationship with JPMorgan remained active.

Now, Winklevoss claims that JPMorgan is once again using its influence to punish dissent—this time over public criticism.

Gemini Eyes IPO Amid Regulatory Tensions

In parallel to this conflict, Gemini filed for an Initial Public Offering (IPO) with the U.S. Securities and Exchange Commission (SEC). Details such as share count and price range have yet to be revealed.

Gemini was founded in 2014 by twins Cameron and Tyler Winklevoss and last raised $400 million in November 2021 at a $7.1 billion valuation.

🇺🇸 Winklevoss Twins Back Trump

The Winklevoss brothers are also known for their political stance, having previously supported Donald Trump’s presidential campaign. Their Bitcoin-based donations were returned after exceeding federal contribution limits.

The timing of this latest JPMorgan-Gemini standoff places Gemini at the center of multiple regulatory, financial, and political narratives shaping the future of crypto banking.