Latest crypto News – Gemini, a cryptocurrency exchange, and JPMorgan are breaking up: source
According to Coinbase, its banking partnership with JPMorgan is still in place.
According to a source with knowledge of the matter, Gemini, the cryptocurrency exchange run by Cameron and Tyler Winklevoss, will no longer receive banking services from the largest U.S. bank, JPMorgan (JPM). Early in 2020, according to the Wall Street Journal, JPMorgan signed up Gemini and U.S.-listed exchange Coinbase as clients. A representative for the San Francisco-based exchange verified that Coinbase’s banking arrangement with JPMorgan is still active.
The crypto business, which was rocked by multiple scandals and failures last year, now faces heightened regulatory scrutiny and increasing difficulty acquiring banking services. JPMorgan chose not to respond. Requests for response from Gemini, a trust corporation governed by the New York State Department of Financial Services, went unanswered. However, Gemini stated in a tweet made following the publication of this article that “despite reporting to the contrary, Gemini’s banking relationship with JPMorgan is intact.”
Gemini is probably not left out in the cold figuratively speaking despite losing one significant banking partner. The exchange’s website states that the business has connections with more institutions, including State Street. State Street did not reply to inquiries for comment either.
Source: www.Pipsafe.com – Latest crypto News – Gemini, a cryptocurrency exchange, and JPMorgan are breaking up: source
According to Coinbase, its banking partnership with JPMorgan is still in place.
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