Following the news that the Strike CEO, Jack Mallers, was debanked, Houston Morgan, Leader of ShapeShift, one of the world’s longest-serving crypto exchanges, has also been debanked by JPMorgan.
This is part of an ongoing attack by JPMorgan to unlawfully de-bank and silence key crypto leaders as part of Operation Chokepoint 2.0.
In response to being de-banked by JPMorgan, Houston said:
"Individuals in the crypto space are finding their bank accounts abruptly closed. In my own case, when I asked Chase why I was being debanked, I was told it was to ‘maintain the image and reputation’ of the financial institution
It’s a stark reminder that even in a supposedly pro-crypto regulatory environment, traditional banks can still pull the rug out from under individuals and businesses. This isn’t just about one or two accounts.
We’re seeing a pattern that echoes past waves of debanking. The difference now is that we’re seeing it happen at a time when we thought the winds were blowing in favour of broader crypto adoption. Instead, it feels like a sudden reversal.”
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