Strike CEO Jack Mallers Debanked by JPMorgan as Bank Faces Epstein Tensions

JPMorgan has upgraded its outlook on Bitcoin miners Cipher and CleanSpark while cutting targets for Marathon Digital (MARA) and Riot Blockchain (RIOT), citing increased risks of shareholder dilution. This shift reflects a growing trend among Bitcoin miners to diversify into high-performance computing (HPC) to meet the rising demand for AI compute resources.

TD Cowen analysts have indicated that Strategy's stock may face continued pressure as MSCI is expected to decide by mid-January on the removal of PBTCs like Strategy from its indexes in February. This potential exclusion could significantly impact the company's market presence and investor confidence.

A Hong Kong man has been sentenced to seven years in Canada for his involvement in a violent home invasion that resulted in the theft of $1.6 million in Bitcoin from a family in British Columbia. The incident included sexual assault, highlighting the severe criminal implications associated with cryptocurrency theft.

JPMorgan is facing renewed scrutiny as it navigates the complexities of debanking and the rivalry between decentralized finance (DeFi) and traditional finance (TradFi). Recent account closures, including that of Strike CEO Jack Mallers, have raised concerns about the bank's stance on cryptocurrency, particularly amid ongoing controversies surrounding its ties to Jeffrey Epstein.

Bitcoin's price has rebounded to $86,000 after hitting a low of $80,915 last week, as Deutsche Bank identifies five key factors contributing to the recent sell-off in the cryptocurrency market. This recovery follows a period of significant volatility, with notable commentary from figures like Anthony Popliano and Fed Governor Christopher Waller.

JPMorgan has upgraded its outlook on Bitcoin miners Cipher and CleanSpark, highlighting a positive shift as high-performance computing (HPC) partnerships reshape the mining sector. This upgrade comes amid a broader trend of increasing collaboration between traditional finance and cryptocurrency mining operations.

JPMorgan Chase & Co. has faced significant criticism from the cryptocurrency sector after it closed accounts associated with crypto firms and issued a research note warning about the risks of strategies employed by bitcoin treasury companies. This move has heightened tensions within the industry, as stakeholders express concerns over the bank's stance on cryptocurrency.

JPMorgan has faced a significant backlash from Bitcoin supporters following reports of a policy change that could adversely affect firms holding substantial Bitcoin assets. This anger has rapidly spread across social media platforms, prompting calls for a boycott against the bank.