{"id":561179,"date":"2023-03-09T00:15:00","date_gmt":"2023-03-08T21:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/geminis-banking-relationship-with-jpmorgan-remains-intact\/"},"modified":"2023-03-09T00:15:00","modified_gmt":"2023-03-08T21:15:00","slug":"geminis-banking-relationship-with-jpmorgan-remains-intact","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/geminis-banking-relationship-with-jpmorgan-remains-intact\/","title":{"rendered":"# Gemini&#8217;s banking relationship with JPMorgan &#8216;remains intact&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27ec1581d26\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27ec1581d26\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/geminis-banking-relationship-with-jpmorgan-remains-intact\/#%E2%80%9D_Geminis_banking_relationship_with_JPMorgan_%E2%80%98remains_intact_%E2%80%9C\" >&#8221; Gemini&#8217;s banking relationship with JPMorgan &#8216;remains intact&#8217; &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Geminis_banking_relationship_with_JPMorgan_%E2%80%98remains_intact_%E2%80%9C\"><\/span>&#8221; Gemini&#8217;s banking relationship with JPMorgan &#8216;remains intact&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvNGNjOGE2ZTgtZTZjMS00NTcxLWIxNWMtNmViOThjMzAyMjFlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Crypto exchange Gemini took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on March 8 to deny rumors about terminating its banking relationship with United States financial conglomerate JPMorgan.\u00a0In a brief and straightforward message, Gemini stated that &#8220;despite reporting to the contrary, Gemini&#8217;s banking relationship remains intact with JPMorgan.&#8221;<\/p>\n<p>The comments came in response to a previous report that claimed without naming a source that the banking ties between the two companies were ending.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Despite reporting to the contrary, Gemini&#8217;s banking relationship remains intact with JPMorgan.<\/p>\n<p>\u2014 Gemini (@Gemini) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Gemini\/status\/1633545195613462530?ref_src=twsrc%5Etfw\">March 8, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The rumors surfaced amid uncertainty about the future relationship between the banking system and the crypto industry in the United States, as regulatory pressure and market outflows after the dramatic collapse of crypto exchange FTX keep driving banks to reduce their exposure to cryptocurrency assets.<\/p>\n<p>Among the most recent examples is Silvergate bank. On March 3, the crypto bank disclosed plans to discontinue its digital assets\u2019 payment network, claiming the termination was a \u201crisk-based decision.&#8221; Concerns that a liquidity crisis could lead to a bankruptcy filing increased last week after Silvergate postponed filing its annual 10-K financial report. <\/p>\n<p><strong><em>Related:\u00a0Banks under pressure from U.S. authorities to cut ties with crypto firms<\/em><\/strong><\/p>\n<p>Silvergate reportedly borrowed $3.6 billion from the U.S. Federal Home Loan Banks System (FHLB) to mitigate a surge in withdrawals. The FHLB is a consortium of 11 regional banks across the United States that provide funds to other banks and lenders.<\/p>\n<p>Another bank making a move away from crypto is Signature Bank. In December 2022, it announced plans to reduce crypto services, return funds to customers and close crypto related accounts. The bank also borrowed nearly $10 billion from the FHLB system in the last quarter of 2022 due to liquidity issues related to the bear market and FTX bankruptcy. <\/p>\n<p>Banks&#8217; moves are impacting crypto firms. In February, Binance announced it would temporarily suspend bank transfers of U.S. dollars. A few weeks earlier, in January, the exchange said its SWIFT transfer partner, Signature Bank, would only process trades by users with U.S. dollar bank accounts over $100,000. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/gemini-s-banking-relationship-with-jpmorgan-remains-intact\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Gemini&#8217;s banking relationship with JPMorgan &#8216;remains intact&#8217; &#8220; Crypto exchange Gemini took to Twitter on March 8 to deny rumors about terminating its banking relationship with United States financial conglomerate JPMorgan.\u00a0In a brief and straightforward message, Gemini stated that &#8220;despite reporting to the contrary, Gemini&#8217;s banking relationship remains intact with JPMorgan.&#8221; The comments came&#8230;<\/p>\n","protected":false},"author":1,"featured_media":561180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/4cc8a6e8-e6c1-4571-b15c-6eb98c30221e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74860,74864,71939,117,70792,70934],"class_list":["post-561179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-exchange","tag-gemini","tag-banks","tag-business","tag-jpmorgan-chase","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=561179"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561180"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}