JPMorgan closes Compass mining pool accounts
JPMorgan is shutting down the accounts of miners. The founder of Twitter becomes in defense of the pool.
JPMorgan Chase Bank closed the bank accounts of the Compass Mining pool without giving a reason. Compass is a bitcoin-focused pool open to all. The company says its mission is to increase decentralization of the network's hash rate. The pressure on the service has caused outrage from the community. Among the defenders of the project is Jack Dorsey, CEO of Twitter and Square, who confirmed: he also mined cryptocurrency with Compass.
JPMorgan closes Compass mining pool accounts
Whit Gibbs, the founder of the platform, assessed the bank's decision this way:
Kudos to Chase for closing Compass Mining accounts, because they are doing their part in replacing the old guard with sovereign, future-oriented hard money advocates. Get off bitcoin or get out of our way.
Magdalena Gronowska, co-founder of Canadian startup Citadel256, notes a disturbing trend: JPM became the second bank on the continent to close miners' accounts this week.
A number of users have made accusations against the bank that closed their accounts because they may have been linked to bitcoin trading and the purchase of bitcoin mining machines.
Report
My comments