On November 24, Strike CEO Jack Mallers said on Sunday that JPMorgan Chase closed his bank account last month without providing a reasonable explanation. After being questioned, JPMorgan Chase responded that there was "concerning activity" in the account.
The market is generally concerned that Operation Chokepoint 2.0 remains in effect. Operation Chokepoint 2.0 refers to a coordinated action allegedly taken by U.S. federal banking regulators during the Biden administration to pressure traditional financial institutions to refuse to provide services to businesses, executives, and individuals in the cryptocurrency ecosystem.
