CEX Alliance accuses JPMorgan of blocking CEX due to its public criticism.

On July 26, Tyler Winklevoss, co-founder of CEX, accused JPMorgan of suspending the re-access process for its Crypto Assets exchange CEX after he publicly criticized the bank's latest data access policy. Winklevoss posted on X on Friday, stating that JPMorgan's action was retaliatory after he pointed out that the bank's new policy was anti-competitive and could harm the fintech and encryption industries. "My tweet last week hit a nerve with them. This week, JPMorgan told us that due to that tweet, they decided to suspend the re-access process for CEX. Previously, they had removed us in 'Operation ChokePoint 2.0.'" Winklevoss wrote. This controversy stems from a recent Bloomberg report revealing that JPMorgan decided to charge fintech companies for access to customer bank data—Winklevoss believes this move will "bankrupt those fintech companies supporting Crypto Asset purchases." Winklevoss accused JPMorgan of trying to limit consumers' free access to their bank data through third-party platforms like Plaid. Plaid is a third-party service that helps users link their bank accounts to various applications and online services. The relationship between CEX and JPMorgan has been unstable for years. In 2023, during the Biden administration, JPMorgan reportedly asked CEX to seek other banking partners, citing profitability issues. However, CEX denied this rumor at the time, stating that "despite contrary reports, CEX's banking relationship with JPMorgan remains intact."