Tyler Winklevos says Jpmorgan has paused Gemini After publicly criticizing the bank, they attempt to restore access to the bank. According to him, the decision came shortly after he posted the tweet. Call out Major Banks fight Open banking reform. He believes in timing It wasn’t By chance.
My tweets from last week have been a nervous one. This week, JPMorgan said it was pausing their playboards for that reason. @gemini Operations as a customer after turning off us during 2.0. They want us to remain silent while we quietly try to steal you… https://t.co/c9ls7qpamt
– Tyler Winclevos (@tyler) July 25th, 2025
Tweets that changed everything
On July 19, Winklevoss accused the banking industry of trying to block consumer financial protections Bureau Open banking rules. He claimed that the banks were trying to stop consumers from sharing them. My own Data via platforms such as Plaid. Immediately after he aired his opinion, Gemini Re-editing with JPMorgan reportedly has stagnated. Winklevoss saw it as a punishment for speaking up.
what At risk for users and fintech
The open banking rules in question fall under Section 1033 of the Consumer Financial Protection Act. They aim to control their financial data to consumers; Allow They share it with apps and services They choose. Winklevoss claims that the banks are try out In turn around This will be the payment model of by addition Fees, it would It hurts Smaller Fintech and Cryptographic Platforms Depend Above Smooth Transfer from Fiat to Crypto.
Is this about money and power?
Winklevoss I didn’t do it Keep it down. He framed bank Resistance as a way to protect the role of gatekeepers in the financial system. In his view, the Less about cost coverage and more about controlling data. He warned that banks were pushing back not only through lobbying but through legal measures aimed at delaying or undermining rules completely.
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Others in the industry will back him up
He is It’s not the only one that’s making the alarm sound. Arjun Seti, Kraken’s The CO-CEO weighed himself with him. My own Criticism. He said the banks handle access to user data like products. It’s on saleyou can lock people in a walled garden. Nic Carter also rang, tying the whole situation. what It is often referred to as Operation Choke Point 2.0. Clear explanation.
Gemini Bank History and Workarounds
Gemini had a connection with JP Morgan before regulators began pushing banks to distance themselves from crypto companies in 2023 and early 2024. Since then, the company has been seeking alternative bank partners. this I wouldn’t do that This is the first time Winclevos twins have had to pivot. They are We dealt with issues that have previously been removed, expanded internationally and addressed by building a variety of payment rails.
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jpmorgan’s Silence says a lot
bank it’s not I’ve commented publicly Winklevoss’s Claim. In the past, JPMorgan has defended billing fees for access to data infrastructure, and CEO Jamie Dimon it’s not He was truly shy about his distrust of code. Whether the debate suspends are personal, political or procedural, JP Morgan is quiet for now.
this teeth Part of the broader battle for who Get it To control financial data. If rates become standard, it can be difficult for new players to compete and make it difficult for users to freely connect to the services they wish to make in a bank account. The outcome of this conflict could shape the future of open banking in the United States for years to come.
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Key takeout
Tyler Winklevos says it has suspended Gemini’s bank meeting after JPMorgan criticized the bank for opposing open banking rules.
The dispute is concentrated in Section 1033, allowing consumers to control financial data and share it with the app.
Winklevoss and others claim that banks want to charge fees for data access, fintech and crypto platform lockouts.
Industry voices like Arjun Sethi and Nic Carter say this reflects a broader push to limit crypto access to banking services.
While JPMorgan has not responded publicly, the standoffs highlight the growing tension between traditional finance and crypto companies.
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