Banks have historically been known to be “anti-crypto,” and now they seem to be closing the accounts of crypto advocates.
Hayden Adams, a software engineer and tech entrepreneur, as well as the founder of Uniswap, a protocol for the automated exchange of ERC20 tokens on Ethereum, complained on Twitter that American multinational investment bank J.P. Morgan had closed his bank account without notice or explanation.
Adams emphasized that his case was not the first as he has heard of other workers in the cryptocurrency industry being targeted by the big banks.
The bank’s support team replied to the tweet, saying that Adams had “a less than ideal experience” and requested some personal information in order to tackle the issue.
On the Flipside
- Uniswap is a multi-billion market cap exchange platform and a direct competitor to banks. Should the accusation made by Adams prove to be true, shutting down the accounts of crypto industry workers is intolerable.