"Chase closes Strike CEO Jack Mallers' accounts" Nov 24, 2025

Today's blockchain and cryptocurrency news Bitcoin bounces back to $87,500 under 'fragile' market structure: analysts Global crypto ETPs see $1.9 billion in weekly outflows, adding to third-worst run since 2018 JPMorgan Chase closes Strike CEO Jack Mallers' accounts, spurring crypto debanking concerns Thailand's Bitkub crypto exchange mulls Hong Kong IPO ###Gemini Card Disclosure: The Gemini Credit Card is issued by WebBank. In order to qualify for the $200 crypto intro onus, you must spend $3,000 in your first 90 days. Terms Apply. Some exclusions apply to instant rewards in which rewards are deposited when the transaction posts. This content is not investment advice and trading crypto involves risk. For more details on rates, fees, and other cost information, see Rates & Fees. The Gemini Credit Card may not be used to make gambling-related purchases. ### For 40% off your order, head to Udacity.com/DCR and use code DCR. Learn more about your ad choices. Visit megaphone.fm/adchoices

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  It's 8 a.m. Eastern, November 24th, and this is your daily crypto report. Bitcoin is up slightly at $86,224. ETH is up slightly at $2,801. XRP is up slightly at $2.05.

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  UKG is the workforce operating platform with unified HR, payroll, and workforce management. Built to solve the unique challenges of frontline work. Powered by People First AI and decades of labor data, UKG turns workforce intelligence into real-time decisions around staffing, pay, compliance, and productivity, enabling every worker to confidently take action as work happens. Because when work works, everything works. Learn more at ukg.com/work. UKG, HR, Pay, and Workforce Management.

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  Welcome to the 50th Hunger Games.

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  Witness the beginning of the revolution.

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  Film for IMAX.

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  Bitcoin has bounced back after briefly dropping near $81,000 with analysts calling the move a "post-flush rebound" rather than a "true momentum shift," lifting the broader market by about 1%. The structure is still fragile, liquidity remains thin, flows are scattered, and long-term holders are quietly accumulating while short-term traders stay defensive. Global crypto ETFs saw $1.9 billion in net outflows last week, pushing the current four-week streak to $4.9 billion, the third-largest withdrawal run since 2018 per CoinShares. Well, JP Morgan Chase closed-strike CEO Jack Mallers' personal accounts last month with no clear explanation, according to Mallers, who said the bank cited only "concerning activity" and told him it couldn't provide details. The closure, despite his family's

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  longstanding relationship with the bank, immediately reignited debate over whether a form-of-operation "Choke Point 2.0" is still quietly targeting crypto companies and executives. Mallers posted a photo of the closure letter, which warned the bank may not open accounts for him again due to "compliance concerns." His announcement drew widespread suspicion online, with users arguing the move fits a pattern of banks distancing themselves from crypto, even though the Trump administration previously claimed to have shut down any such coordinated regulatory pressure. Trump also signed an executive order in August penalizing firms that de-bank crypto businesses. Tether CEO Paolo Arduino responded publicly, saying Mallers being pushed out by JP Morgan may ultimately be "for the best," and added that Bitcoin will endure.

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  And finally, Thailand's biggest crypto exchange, Bitcub, is exploring an IPO in Hong Kong, per Bloomberg. The company may aim to raise about $200 million, possibly as early as next year, though details could still change. Bitcub had previously considered going public in Thailand, but the plan lost momentum as the Thai stock market has fallen roughly 25% this year. CEO had already told shareholders in early 2024 that Hong Kong was "being evaluated as a listing venue to boost global visibility." Hong Kong has been building itself up as a crypto hub, launching spot crypto ETFs, including Solana ETFs ahead of the US, rolling out a licensing regime, and introducing sandbox frameworks for stablecoins and tokenized deposits. Regulators there recently said local exchanges will be able to connect to

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  global order books, giving the city a more competitive footing for crypto-trading platforms. That's all for us today. Visit us at DailyCryptoReport.io and listen to us everywhere else you podcast under Daily Crypto Report.

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