TechFlow news, January 24 — Uniswap founder Hayden Adams announced early this morning on Twitter that JPMorgan Chase had closed his bank account without prior notice. "I know many individuals and companies who've experienced similar situations simply because they're involved in the cryptocurrency industry," Adams pointed out.
Brian Quintenz, former member of the Commodity Futures Trading Commission (CFTC), replied: "This action may have been taken by Federal Reserve or OCC bank examiners under regulatory guidance. If an examiner deems a particular client too risky for a bank, and the bank subsequently terminates that relationship, the bank is contractually prohibited from disclosing the reason to the customer."
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