JPMorgan just told Polymarket to take a hike as a customer—yet they're still rolling out the red carpet for the founder at their events and apparently want a piece of the IPO action down the line.
This is the kind of stuff that makes you scratch your head. Banks will publicly distance themselves from crypto when it's convenient, claim they're just following compliance rules, whatever. But behind closed doors? Different story. They want the upside, the fees, the deal flow—just not the headline risk of actually servicing the company day-to-day.
It's not really hubris. It's calculated. They're hedging. Keep the relationship warm enough to stay in the game for the big payday later, but cold enough to avoid any regulatory blowback today. Classic move.
Debanking isn't some conspiracy theory—it's just risk management dressed up as policy. And this Polymarket situation is a textbook example of how banks play both sides when there's money on the table. 🤷
This is the kind of stuff that makes you scratch your head. Banks will publicly distance themselves from crypto when it's convenient, claim they're just following compliance rules, whatever. But behind closed doors? Different story. They want the upside, the fees, the deal flow—just not the headline risk of actually servicing the company day-to-day.
It's not really hubris. It's calculated. They're hedging. Keep the relationship warm enough to stay in the game for the big payday later, but cold enough to avoid any regulatory blowback today. Classic move.
Debanking isn't some conspiracy theory—it's just risk management dressed up as policy. And this Polymarket situation is a textbook example of how banks play both sides when there's money on the table. 🤷