Tyler Winklevoss claims JPMorgan plans to impose fees on third-party apps like Plaid, potentially impacting small fintech and crypto startups by making access to banking data costly. This strategy aims to block competition in financial technology.
Industry experts argue that JPMorgan’s focus on data control undermines security claims. CEO Jamie Dimon defends these fees as necessary, yet many believe the real intent is to stifle competition and maintain a stronghold over customer data.
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