Post by congregatio on Sept 11, 2021 22:58:00 GMT 4
Bitcoin mining firm Compass Mining’s bank accounts with Chase Bank, the retail banking arm of JPMorgan Chase, were terminated without warning earlier this week, according to Compass CEO Whit Gibbs.
Gibbs took to Twitter on Wednesday to announce the shutdown, writing: “Shoutout to Chase for shutting down Compass Mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money.”
According to Gibbs, Compass Mining learned about the account closures when Jameson Nunney, its chief operations officer, visited a local branch in Ohio to make a transaction and was told by an employee that the company’s accounts had been frozen the day before and that Chase would be holding the money until Aug. 27. The accounts held about 7% of the company’s cash.
Gibbs took to Twitter on Wednesday to announce the shutdown, writing: “Shoutout to Chase for shutting down Compass Mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money.”
According to Gibbs, Compass Mining learned about the account closures when Jameson Nunney, its chief operations officer, visited a local branch in Ohio to make a transaction and was told by an employee that the company’s accounts had been frozen the day before and that Chase would be holding the money until Aug. 27. The accounts held about 7% of the company’s cash.