JPMorgan closed personal accounts of Uniswap founder without notice

According to Hayden Adams, the bank also did not give the reasons for its decision

24.01.2022 - 10:50

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2 min

What’s new? JPMorgan, an investment bank, has closed the accounts of Hayden Adams, founder of the decentralized exchange Uniswap. In this, the financial institution did not give any reasons for its decision, nor did it notify Adams about it. This is stated in his post on Twitter.

🤡 This week @jpmorgan @Chase closed my bank accounts with no notice or explanation🧑‍💻 I know many individuals and companies who have been similarly targeted simply for working in the crypto industry🚀 Thanks for making it a personal— hayden.eth 🦄 (@haydenzadams) January 23, 2022

How did Adams comment on the situation? According to him, he knows “many individuals and companies who have been similarly targeted simply for working in the crypto industry.”

The former Commissioner of the US Commodity Futures Trading Commission, Brian Quintenz, said on Twitter that the banking institutions, according to internal documentation, have the right not to disclose the reasons for their decisions.

Likely a shadow de-banking of crypto by @federalreserve or @USOCC bank examiners, with direction from the top. If the examiner told a bank that a certain customer is too risky and the bank ended that relationship, the bank is contractually prevented from telling that customer why— Brian Quintenz (@BrianQuintenz) January 23, 2022