On Sunday, Hayden Adams, CEO and founder of the popular decentralized exchange, or DEX, Uniswap (UNI), claimed that his JP Morgan Chase (NYSE:JPM) bank accounts were shut down with no explanation. In addition, Adams stated that the incident was personal in nature as he knew "many individuals and companies who have been similarly targeted simply for working in the crypto industry."
Former Commodity Futures Trading Commissioner Brian Quintenz responded with a comment suggesting that the move was likely an instance of "shadow de-banking of crypto by the Federal Reserves and Office of the Comptroller of the Currency bank examiners."