Uniswap founder's bank account shut down by JP Morgan Chase, shadow-debanking...
Banks do not need to provide an explanation to shut down accounts owned by clients deemed "too risky," according to former CFTC commissioner Brian Quintenz. On Sunday, Hayden Adams, CEO and founder of the popular decentralized exchange, or DEX, Uniswap (UNI), claimed that his JP Morgan Chase bank accounts were shut down with no explanation. In addition, Adams stated that the incident was personal in nature as he knew "many individuals and companies who have been similarly targeted simply for working in the crypto industry." This week @jpmorgan @Chase closed my bank accounts with no notice....
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Via his Twitter account, co-founder and CEO of Compass Mining, a company that offers Bitcoin mining host services and hardware, Whit Gibbs reported that U.S. bank JP Morgan Chase closed their accounts. At the time of writing, the financial institution hasn’t provided a reason that justifies the decision. Following the incident with Chase bank, Gibbs […]
A possible cryptocurrency scam is using JPMorgan & Chase's branding - and the bank isn't happy about it. In a message posted to its Chinese-language website, JPMorgan disavowed any relationship with the so-called "JPMCoin" or "Morgan Dollars", a virtual currency currently being pitched via Chinese social media platforms. The bank said in the statement: "JPM Coin is not a product of JPMorgan Chase nor of any of its affiliates in China or elsewhere. JPMorgan Chase has not authorised any virtual currency (of this type or similar in any way). JPMorgan Chase has not authorized references to....
According to Business Insider, the recent filing is a renewal of a patent first filed in 1999, so this isn't actually a new creation by JP Morgan Chase at all. JP Morgan Chase is building its own digital currency for use with digital 'wallets', it has been reported. The banking giant filed a patent application relating to a "method and system for processing internet payments using the electronic funds transfer network". Let's Talk Bitcoin claimed the patent application was actually filed on 5th August, and published 28th November. The application's abstract says: "Embodiments of the....
Here's some food for thought. A poster on Reddit created this thread on Monday claiming that Chase bank is banning bitcoin-related activity. That's according to a company representative, who had the following to say (paraphrased): Chase is banning any and all activities that involve Bitcoin. Period. This includes anything relating to the buying and selling of Bitcoins, as well as anything related to mining hardware that would produce Bitcoins. The author of the thread claims this was a "direct statement" from the person he spoke to, but that doesn't quite make it the real deal. The company....
American multinational banking and financial services holding company JP Morgan Chase & Co. has announced the launch of its own version of a mobile payment system, Chase Pay, which will allow users to pay major retailers and merchants in the U.S, including the country’s largest retailers Walmart and Best Buy. As a rival platform, the bank’s mobile payment network is set to challenge Apple Pay in various strategies. For example, since its launch a year ago, Apple Pay failed to convince major retailers including Walmart and Best Buy to accept payments through its technology. In fact,....