JPMorgan Chase "Blacklists" Strike CEO, Sparking Fresh Concern in US Crypto Industry over "Debanking" Wave

BlockBeats News, November 25th. In a recent development, major US bank JPMorgan Chase closed the personal account of Bitcoin payment company Strike CEO Jack Mallers, sparking renewed concerns in the US crypto industry about "debanking."

Mallers took to Twitter on Sunday to share that JPMorgan Chase had abruptly closed his personal account last month without providing any explanation. He wrote: "Last month, JPMorgan Chase kicked me out of the bank. Every time I asked why, they just said one thing: we can't tell you the reason."

This incident has reignited worries about "Operation Chokepoint 2.0," with critics using the term to describe government pressure on banks to cut ties with crypto businesses.

US Senator Cynthia Lummis posted on Twitter on Monday, saying: "Operation Chokepoint 2.0 sadly still exists." She pointed out that JPMorgan Chase's actions are undermining public confidence in the traditional banking system and driving the crypto industry overseas.

Lummis called for an end to this practice, stating: "The US should be a global hub for digital assets, not forcing this industry to leave."