Gemini exchange refutes the statement about the termination of banking relations with JPMorgan
The trading platform became a client of the holding company in 2020
09.03.2023 - 07:15
189
1 min
0
U.S. banking giant JPMorgan (JPM) is ending its banking relationship with Gemini, the cryptocurrency exchange owned by Cameron and Tyler Winklevoss, according to a person familiar with the situation.
Back in early 2020, JPMorgan took on Gemini and U.S.-listed exchange Coinbase as customers, the Wall Street Journal reported.
Coinbase's banking relationship with JPMorgan remains intact, a spokesperson for the San Francisco-based exchange confirmed.
The crypto industry, which was rocked by numerous scandals and collapses last year, now faces heightened regulatory scrutiny and greater difficulty accessing banking services.
JPMorgan declined to comment.
Gemini, a trust company regulated by the New York State Department of Financial Services, did not respond to requests for comment. In a tweet sent after the publication of this article, however, Gemini wrote, "Despite reporting to the contrary, Gemini's banking relationship remains intact with JPMorgan."
Gemini's loss of one major banking partner likely does not leave it in the figurative cold. The company has relationships with other banks, including State Street, according to the exchange's website. State Street also did not respond to requests for comment.
This material is taken from the website https://www.coindesk.com.
Useful material?
Market
The leader was the Solana network, with 100 million active addresses per month
Oct 17, 2024
Crypto regulations
Amendments to the regulation of financial institutions have been published for public discussion until October 30
Oct 16, 2024
Market
Over the past four years, the company’s shares have grown by 1540%, while the index has gained only 111%
Oct 16, 2024
Incidents
Over the last 24 hours, the asset has updated its all-time high at $2,34
Oct 15, 2024
Market
The Bitnomial platform will try to challenge the SEC’s position on the status of the XRP token
Oct 11, 2024
Incidents
Law enforcers explained such a small sentence by the fact that Heather Morgan actively cooperated with the investigation and played a minor role in the crime
Oct 11, 2024