Uniswap Founder Discovers Banking Accounts Closed

Just recently, the founder of the decentralized exchange Uniswap vented his frustration by claiming that his bank accounts were by the major bank JPMorgan Chase. What’s worse is that they were closed with no explanation nor was he notified of the action.

Adams vented in his tweet, that he knows many people who have experienced similar things in the past before. Their accounts have been targeted simply because they are known for working with cryptocurrency and being active in the crypto industry.

JPMorgan  Chase’s official Twitter support channel replied with concern regarding Adam’s tweet. They stated they want to help him with his problem and want to know where he is coming from. The channel asked for any information that he would like to share that they can use to make things better for him.

Expert commentators like Brian Quintenz known for managing finances said that what JPMorgan did was what we call a “shadow de-banking” of cryptocurrency most likely issued by the Federal reserve or other government agencies at the top. 

Basically, if an examiner tells a bank that a customer is too risky, the bank should end its relationship with that client. What’s worse is that they are contractually obliged to not notify the client!

Conclusion

Whether or not JPMorgan was contacted by someone high on top or if it was simply a mistake, it does change the fact that Hayden Adams suffered from this event. If someone like the founder of Uniswap can be targeted then it can happen to all of us when we least expect it.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.