{"id":47967,"date":"2021-08-19T18:20:27","date_gmt":"2021-08-19T15:20:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47967"},"modified":"2025-09-01T23:56:13","modified_gmt":"2025-09-01T20:56:13","slug":"jpmorgan-closes-compass-mining-firms-accounts","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-closes-compass-mining-firms-accounts\/","title":{"rendered":"JPMorgan closes Compass mining firm&#8217;s accounts"},"content":{"rendered":"<p>The financial conglomerate JPMorgan Chase has ceased servicing Compass, the mining company founded by Whit Gibbs.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Shoutout to <a href=\\\"https:\/\/twitter.com\/Chase?ref_src=twsrc%5Etfw\\\">@Chase<\/a> for shutting down <a href=\\\"https:\/\/twitter.com\/compass_mining?ref_src=twsrc%5Etfw\\\">@compass_mining<\/a> accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money.<\/p>\n<p>Get behind <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> or get out of our way \ud83d\udd25<\/p>\n<p>\u2014 Whit Gibbs \ud83e\udded (@BitcoinBroski) <a href=\\\"https:\/\/twitter.com\/BitcoinBroski\/status\/1428059569348034564?ref_src=twsrc%5Etfw\\\">August 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Gibbs reacted emotionally to the development.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>&#8220;Thanks&#8221; to Chase for closing Compass accounts. This has become part of our work to replace the &#8220;old guard&#8221; with sovereign, future-focused supporters of hard money. Support Bitcoin or get out of the way,&#8221;<\/em>, he wrote.<\/p>\n<\/blockquote>\n<p>The top executive did not specify the reasons for ending the partnership.<\/p>\n<p>According to Gibbs, the company is already in talks with Silicon Valley Bank. One of his followers noted that the institution previously backed Coinbase at the early stage of the industry.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">In talks. SVB has been fantastic.<\/p>\n<p>\u2014 Whit Gibbs \ud83e\udded (@BitcoinBroski) <a href=\\\"https:\/\/twitter.com\/BitcoinBroski\/status\/1428066938304045059?ref_src=twsrc%5Etfw\\\">August 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Compass&#8217;s CEO assured that the company remains operational. Accounts have been opened not only in one &#8216;foul-smelling&#8217; institution.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Edit: fortunately the company doesn\u2019t entrust its finances solely in one dusty-ass institution so business operations move on as usual \ud83d\ude18<\/p>\n<p>\u2014 Whit Gibbs \ud83e\udded (@BitcoinBroski) <a href=\\\"https:\/\/twitter.com\/BitcoinBroski\/status\/1428068718471434246?ref_src=twsrc%5Etfw\\\">August 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier in July, Compass and the California-based nuclear plant operator Oklo <a href=\"https:\/\/forklog.com\/en\/news\/oklo-to-assist-compass-with-bitcoin-mining\">reached an agreement<\/a> to mine Bitcoin on the latter&#8217;s facilities.<\/p>\n<p> Subscribe to ForkLog on YouTube! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial conglomerate JPMorgan Chase has ceased servicing Compass, the mining company founded by Whit Gibbs.<\/p>\n","protected":false},"author":1,"featured_media":47968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,18,2237,1137,229],"class_list":["post-47967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-bitcoin","tag-compass","tag-cryptocurrency-mining","tag-jpmorgan"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47967"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47967\/revisions"}],"predecessor-version":[{"id":47969,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47967\/revisions\/47969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47968"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}