JPMorgan's Jamie Dimon Halted Gemini Integration Over Customer Data Sharing Backlash, Claims Tyler Winklevoss

Tyler Winklevoss has intensified his public confrontation with JPMorgan Chase & Co, accusing the bank of hindering his crypto exchange Gemini’s access to essential banking services in retaliation for his criticism.

The spat flared after a recent Bloomberg report revealed that JPMorgan would begin charging financial‑technology firms for customer account data access, a move Winklevoss says will “bankrupt fintechs” that rely on such links to facilitate cryptocurrency purchases.

Data‑Access Fees Draw Fire

On July 19, 2025, Winklevoss took to the social platform X to lambast JPMorgan and CEO Jamie Dimon: “We will continue to call out this anti‑competitive, rent‑seeking behaviour and immoral attempt to bankrupt fintech and crypto companies. We will never stop fighting for what is right!” He alleged that the bank paused onboarding Gemini as a customer in direct response to his outspokenness.

JPMorgan, which processes nearly 2 billion monthly data‑access requests, defended the fee structure as necessary to curb misuse by data “middlemen”.

In a statement, the bank said the new charges ensure information is shared only at customers’ request and that data providers “are fostering a safe, secure data ecosystem that we built and maintain, and that their entire industry was built upon”.

This is far from the first rub between Gemini and JPMorgan. In the exchange’s early days JPMorgan asked Gemini to find alternative banking partners after assessing that servicing a crypto firm was unprofitable.

The fractious history is compounded by the Winklevoss twins’ political ties, Tyler and Cameron contributed to former President Donald Trump’s campaign and have attended several White House events, while Dimon has been a vocal crypto sceptic even as JPMorgan explores blockchain services.

Gemini, founded in 2015 by the Winklevoss twins following their legal battle with Mark Zuckerberg over Facebook’s origins, recently confidentially filed for an initial public offering. A public listing could occur as soon as this year pending the conclusion of the US Securities and Exchange Commission probe. Earlier this year Gemini agreed to a $5 million settlement with the Commodity Futures Trading Commission to resolve claims of unregistered derivatives trading.

As the exchange navigates regulatory hurdles and an evolving banking relationship, Tyler Winklevoss’s confrontation with JPMorgan spotlights broader tensions between traditional financial institutions and the burgeoning crypto sector.