Strike CEO Jack Mallers said JPMorgan closed his accounts without explanation, reigniting fears of Operation Chokepoint 2.0 and renewed pressure on crypto companies. Banking giant JPMorgan Chase’s decision to cut ties with the CEO of Bitcoin payments company Strike is reigniting concerns about a renewed wave of US “debanking,” an issue that haunted the crypto industry during the 2023 banking turmoil. Jack Mallers, CEO of the Bitcoin (BTC) Lightning Network payments company Strike, said Sunday on X that JPMorgan closed his personal accounts without explanation. “Last month, J.P. Morgan Chase threw me out of the bank,” Mallers wrote. “Every time I asked them why, they said the same thing: We aren’t allowed to tell you.” Read more
Solana ETFs have pulled in $369 million so far this month as investors appear to favor yield-bearing products, while Bitcoin and Ether ETFs faced billions in redemptions. Despite steep redemptions from Bitcoin and Ethereum ETFs, Solana attracted $369 million of inflows this month as investors increasingly positioned SOL as a yield-generating asset. According to Bohdan Opryshko, co-founder and chief operating officer of Everstake, both institutions and retail holders are “treating Solana as a yield-generating asset rather than a speculative trade.” He told Cointelegraph that Solana’s native staking rewards of 5%–7% have created an appeal that Bitcoin (BTC) ETFs cannot match, and only a limited set of Ethereum products currently offer. Read more