Bitcoin Debanking Fears Resurface as JPMorgan Chase Closes Strike CEO Jack Mallers’ Personal Account

In a developing story, JPMorgan Chase reportedly closed the personal account of Strike founder Jack Mallers, reigniting concerns about debanking within the US crypto sector. The move underscores ongoing scrutiny of bank relationships with crypto firms and the risk of sudden access disruptions.

Mallers said on X that the bank offered no formal explanation, only indicating that a reason could not be disclosed. The lack of transparency fuels tension between crypto executives and traditional lenders, prompting questions about due process and evolving risk controls.

The episode amplifies the debate around Operation Chokepoint 2.0, a term used by critics to describe policy pressure on banks to sever crypto ties. Senator Cynthia Lummis has urged a reassessment, arguing such moves erode confidence in the US banking system.