JPMorgan is facing a sharp backlash from the crypto community after a series of events revived fears of “Operation Chokepoint 2.0,” the allegation that big banks and regulators are quietly cutting crypto firms off from financial services.
Tensions escalated when MSCI proposed new index rules that would exclude companies holding more than 50% of their assets in crypto — a move that directly threatens Strategy (formerly MicroStrategy), the largest bitcoin-treasury company.
JPMorgan circulated the analysis, fueling accusations of coordinated pressure.
WATCH: Pooja Rajkumari breaks down why JPMorgan is facing mass boycott from the crypto community after new debanking allegations surface.| @poojarajkumari7 pic.twitter.com/FelxaE2Utm
— Roundtable Network (@RTB_io) November 24, 2025
The controversy grew after Strike CEO Jack Mallers said JPMorgan abruptly closed his personal accounts without explanation.
Crypto leaders pointed to years of sudden account closures and compliance flags as evidence of systemic discrimination.
JPMorgan Chase Ends Banking Ties With Strike CEO, Rekindling Crypto Debanking Concerns
— Decrypt (@DecryptMedia) November 24, 2025
► https://t.co/8YgrNFKiid https://t.co/8YgrNFKiid
Analysts warn MSCI’s proposal could force billions in outflows if implemented.
Bitcoin advocates are now calling for a full boycott of JPMorgan, arguing the bank is helping trigger a new chokepoint against the industry.
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