CATENAA, Tuesday, November 25, 2025- JPMorgan Chase shut the personal bank accounts of Strike chief executive Jack Mallers, raising new worries about access to banking services for crypto figures despite an executive order meant to shield the sector.
The move follows an order signed in August by President Donald Trump that directed banks to avoid actions seen as targeting crypto initiatives.
Mallers said the bank took the step in September after routine checks flagged what it called concerning activity.
The notice offered no details beyond references to federal compliance rules, including the Bank Secrecy Act.
The action revived questions about whether past pressure on banks to distance themselves from crypto businesses has fully faded.
Industry observers said the closure may heighten uncertainty for executives who rely on large institutions for basic financial access.
They added that recent political statements about earlier account disruptions have kept attention on how banks review customers tied to digital assets.
Former advisers and industry leaders said the latest development shows that tensions around risk reviews continue. They noted that past claims of improper pressure, known in the sector as efforts to curb services to crypto firms, remain a point of debate.
Mallers has been a vocal critic of large banks’ views on digital assets. He has said past comments from banking executives misjudge how open networks function.
Analysts expect the matter to draw further discussion as policymakers reexamine oversight of digital finance and how banks apply monitoring rules to individuals active in the sector.
