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Gemini Lianchuang says JPMorgan has suspended Gemini's residency process after criticizing data access fees

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2025-07-26 16:10:33
Gemini co-founder Tyler Winklevoss claims that after he criticized JPMorgan's new fee structure for fintech companies, JPMorgan suspended the Gemini residency process.
Last week, Winklevoss publicly criticized JPMorgan CEO Jamie Dimon after Bloomberg reported that the bank would start charging fintech platforms for access to customer bank data. Many of these platforms serve as a bridge between traditional banks and crypto services.
"This will bankrupt the fintech companies that help you connect your bank accounts to crypto companies," Mr. Winklevoss wrote on the X platform. "This is an extreme regulatory capture that stifles innovation, harms American consumers and is bad for the United States."
JPMorgan did not directly respond to the Gemini incident, but defended its decision in an interview with Forbes, saying that nearly 2 billion requests for user data per month come from third parties, most of which are unrelated to real customer activity.
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