Winklevoss Calls Out JPMorgan as Crypto Access and Open Banking Clash Intensifies

The post Winklevoss Calls Out JPMorgan as Crypto Access and Open Banking Clash Intensifies appeared first on Coinpedia Fintech News

Gemini co-founder Tyler Winklevoss has publicly called out JPMorgan , as he accused the bank of trying to shut down access to crypto. He has stepped up his fight with JPMorgan, saying the bank is blocking Gemini from key banking services because he spoke out against them.

This comes after a Bloomberg report revealed that JP Morgan plans to charge fintechs for access to customer data. He claims that this move could bankrupt crypto-friendly fintechs that rely on that data to help users buy crypto.

Kraken’s co-CEO, Arjun Sethi had also criticized the move, saying JPMorgan is treating user data like a product to sell. “Once data becomes a revenue stream,” he said, “the goal is to lock it in and profit from it.”

Right now, apps like Plaid let you connect your bank to crypto platforms like Gemini, Coinbase, and Kraken, for free. But banks want to start charging high fees, which could crush the fintechs that make those connections possible.

He explains that a rule called the Open Banking Rule gives people the right to access their bank data through third-party apps. But now, JPMorgan and others are suing to get that rule thrown out, which could shut down easy access to crypto.

He calls this a clear case of big banks trying to protect their interests by blocking innovation. He also said that this goes against President Trump’s push to make America a global leader in crypto.

Winklevoss says that JPMorgan is retaliaiting Gemini for speaking out. After he criticized the bank last week, JPMorgan told them it’s pausing plans to re-onboard Gemini as a customer. Tyler claims the bank wants them to stay quiet while it works to end free access to banking data through fintechs like Plaid, cutting off an important bridge to crypto.

“We will continue to call out this anti-competitive, rent-seeking behavior and immoral attempt to bankrupt fintech and crypto companies. We will never stop fighting for what is right,” he said, in a recent X post.

The post triggered a wave of comments among users. “Big banks are scared you might actually control your own money.” Some users are calling out the real issue—banks don’t want to give up control. They’d rather keep people locked into their systems than allow true financial freedom.

Another user noted that Open Banking isn’t just a crypto issue, it’s global. Most countries are moving toward it, and the U.S. falling behind would hurt innovation and competition.

One of them went even further and said that Ripple needs to secure a banking license fast if this is the kind of roadblock the industry will keep facing. He points out that traditional banks have spent years pushing back against digital assets, and now that crypto is gaining ground, they’re unprepared.