He added:
“They want us to stay silent while they quietly try to take away your right to access your banking data for free […] We will continue to call out this anti‑competitive, rent‑seeking behavior.”
That rule, still being implemented, would guarantee consumers free third-party access to their account data through aggregators such as Plaid.
Winklevoss alleged that JPMorgan and other institutions want to replace free data feeds with “exorbitant fees,” a shift he warned would “bankrupt fintechs” and stifle the on‑ramp that lets retail customers fund crypto purchases with dollars.
JPMorgan has not publicly addressed Winklevoss’s allegations.
Several exchanges lost long-standing accounts in 2023 and early 2024 amid heightened regulatory scrutiny, forcing them to seek new partners or international workarounds.
Gemini, which previously used JPMorgan for corporate banking, has been courting new and former providers as it expands its international derivatives venue and bids for broader US offerings.
Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill acknowledged a targeted effort from the agency towards “debanking” crypto firms.
