JPMorgan Chase freezes bank accounts tied to two stablecoin startups due to exposure to sanctioned and high-risk jurisdictions, such as Venezuela. The accounts belonged to BlindPay and Kontigo, backed by Y Combinator, flagged for business activities in sanctioned locations. Chargeback surge prompts account closures, Checkbook CEO explains. JPMorgan and Checkbook deepen partnership amid the closures, with Checkbook joining J.P. Morgan Payments Partner Network to offer digital check payments to corporate clients. Cryptocurrencies gain popularity in Venezuela amidst economic challenges. Winklevoss accuses JPMorgan of retaliating against Gemini over criticism, as JPMorgan explores offering crypto trading to institutional clients amid growing interest.

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