JPMorgan faces crypto backlash as calls to boycott mount

Core Viewpoint - JPMorgan Chase & Co. is facing backlash from the cryptocurrency community due to accusations of targeting Bitcoin-focused entities, leading to calls for a boycott of the bank [1][4]. Group 1: Account Closures and Controversy - The controversy was ignited when Jack Mallers, CEO of Strike, disclosed that JPMorgan closed his personal accounts in September 2025, citing unspecified compliance concerns, despite a long-standing banking relationship [2]. - The closure of accounts has prompted significant reactions from the crypto community, with advocates urging customers to withdraw their funds from JPMorgan [4]. Group 2: Market Impact and Warnings - JPMorgan's research division issued a warning regarding Strategy (formerly MicroStrategy), indicating that it could face forced outflows of up to $8.8 billion if MSCI Inc. excludes "digital asset treasury companies" from its listings by early 2026 [3]. - This warning has raised concerns across both crypto and equity markets, as Strategy's business model is closely linked to Bitcoin's price and public perception [3]. Group 3: Broader Implications - The incident highlights a significant flashpoint in the relationship between crypto-native businesses and traditional financial institutions, suggesting that actions taken by major banks can provoke swift and widespread responses from the crypto community [5].