Strike CEO debanked by JPMorgan as Lummis sounds ‘Chokepoint 2.0’ alarm

Strike CEO Jack Mallers said JPMorgan closed his accounts without explanation, reigniting fears of Operation Chokepoint 2.0 and renewed pressure on crypto companies.

Banking giant JPMorgan Chase’s decision to cut ties with the CEO of Bitcoin payments company Strike is reigniting concerns about a renewed wave of US “debanking,” an issue that haunted the crypto industry during the 2023 banking turmoil.

Jack Mallers, CEO of the Bitcoin (BTC) Lightning Network payments company Strike, said Sunday on X that JPMorgan closed his personal accounts without explanation.

“Last month, J.P. Morgan Chase threw me out of the bank,” Mallers wrote. “Every time I asked them why, they said the same thing: We aren’t allowed to tell you.”

Read more