JPMorgan Is Cutting Ties With Gemini
According to a person familiar with the situation, JPMorgan (JPM) is ending its banking relationship with Gemini, the cryptocurrency exchange owned by Cameron and Tyler Winklevoss.
According to the Wall Street Journal, JPMorgan took on Gemini and US-listed exchange Coinbase as customers in early 2020.
A spokesperson for the San Francisco-based exchange confirmed that Coinbase’s banking relationship with JPMorgan remains intact.
The cryptocurrency industry, which was rocked by a slew of scandals and collapses last year, is now subject to increased regulatory scrutiny and greater difficulty accessing banking services.
JPMorgan did not respond to a request for comment.
(With inputs from Shikha Singh)
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