The confrontation between the traditional financial system (TradFi) and the world of cryptocurrencies is gaining new momentum. The largest bank in the USA, JPMorgan Chase, unilaterally closed the personal bank account of Jack Mallers, the founder and CEO of the popular payment application Strike.
Mallers publicly reported this incident, stating that the bank did not provide clear explanations regarding the reasons for the blockage. This event has become another alarming signal for the crypto community and confirmation of the existence of an unspoken 'debanking' policy — a practice where banks refuse to serve well-known representatives of the digital assets industry.
For Mallers, who is a staunch supporter of Bitcoin, this move by Wall Street was just proof of the need for decentralized money. The situation vividly demonstrates the main vulnerability of the fiat system: your funds are controlled by intermediaries who can cut you off from finances at any moment. Jack's response was clear — he will continue to build the infrastructure for the free circulation of capital based on BTC, independent of bankers' whims.
This case once again reminds us: "Not your keys, not your coins" applies not only to exchanges but also to bank accounts.
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