Overview
- Mallers disclosed that JPMorgan terminated his personal accounts in September, with a letter citing routine monitoring that found “concerning activity” and warning he may be unable to open future accounts.
- The bank has not provided specific reasons for the closure or publicly responded to calls for a boycott, according to multiple reports.
- Bitcoin advocates including Grant Cardone and Max Keiser urged customers to leave the bank, and some individuals reported closing Chase accounts in response.
- JPMorgan’s research division warned that MSCI could exclude “digital asset treasury companies” by early 2026, a change that could force outflows for Strategy (formerly MicroStrategy).
- The episode revived allegations of crypto “debanking” and drew political attention, with references to President Trump’s August order against such practices and renewed scrutiny of the bank’s broader compliance record.