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Recently, the conflict between the crypto assets exchange Gemini and banking giant JPMorgan has escalated again. Gemini's co-founder Tyler Winklevoss revealed on social media that JPMorgan has suspended Gemini's account opening services. This decision is reportedly a response to Winklevoss's previous public criticism of the bank's fee policies for fintech companies.
It is worth noting that this is not the first dispute between the two institutions. Previously, JPMorgan had already taken restrictive measures against Gemini in its so-called 'Choke Point Operation 2.0'.
Winklevoss further pointed out in his statement that JPMorgan's move seems aimed at suppressing Gemini's voice while secretly trying to limit users' right to access bank data for free. He emphasized that Gemini will continue to condemn such behavior, which is considered anti-competitive.
This event highlights the ongoing tension between traditional financial institutions and emerging Crypto Assets platforms. With the rapid development of financial technology and the Crypto Assets industry, similar conflicts may increasingly come to the public's attention.
For a large number of users, this inter-institutional game may affect the way and cost of obtaining financial services. Therefore, regulatory agencies may need to find a balance between protecting consumer rights and promoting financial innovation.
As the situation develops, the industry will closely monitor the broader impacts that this conflict may bring, including the potential effects on financial technology companies, traditional banks, and the entire financial ecosystem.