Operation ChokePoint 2.0
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Popular crypto exchange slams 225-year-old Wall Street 'dinosaur'
Yahoo Finance· 2026-03-21 14:00
Core Viewpoint - Gemini, founded by the Winklevoss twins, positions itself as a leading cryptocurrency trading exchange, asserting its competitiveness against traditional finance institutions despite the ongoing evolution of decentralized finance (DeFi) [1] Group 1: Competition with Traditional Finance - Gemini has publicly criticized traditional banks, referring to them as "dinosaurs" and suggesting that they are not sustainable in the long term [2] - The crypto exchange believes that Wall Street banks, including JPMorgan, are attempting to undermine the crypto industry [4][5] Group 2: Dispute with JPMorgan - Gemini's co-founder, Tyler Winklevoss, accused JPMorgan of trying to "kill fintech and crypto companies" by imposing fees for accessing customer bank account information [4] - Winklevoss described JPMorgan's actions as part of a broader initiative, termed "Operation ChokePoint 2.0," aimed at restricting access to banking services for the crypto sector [5] - JPMorgan has denied these allegations, stating that it serves many crypto companies and is actively onboarding new clients, while attributing the issues to data harvesting concerns [6][5]