TLDR
- JPMorgan flagged Strategy’s possible MSCI index exclusion in a recent research note.
- Senate documents show JPMorgan reported $1.3B in Epstein-linked transactions after his death.
- Critics allege JPMorgan held back Epstein-related evidence until after he died in custody.
- Crypto voices claim JPMorgan shorted MSTR before negative MSCI news, fueling boycott calls.
A growing boycott campaign against JPMorgan is gaining traction online. This is due to new scrutiny over the bank’s past financial relationship with Jeffrey Epstein and its recent research about possible crypto company exclusions from stock indexes.
Crypto communities and some public figures are urging customers to close their accounts. Their focus is on the bank’s handling of both the Epstein case and the MSCI index classification warning involving crypto-aligned firms.
Epstein Case Reignites Criticism of JPMorgan
New Senate documents have revealed that JPMorgan under-reported suspicious financial activity connected to Jeffrey Epstein during his lifetime. After Epstein died in 2019, the bank filed suspicious activity reports (SARs) covering nearly $1.3 billion in transactions.
A JPMorgan spokesperson stated that the bank had filed earlier reports, but according to Senator Ron Wyden, the scope of reporting was minimal. Wyden said that the bank “ought to face criminal investigation” for failing to act while Epstein was alive. His office found the bank reported only $4.3 million in suspicious transactions before Epstein’s death.
“Bank executives tuned out compliance officers who were alarmed by Epstein’s transactions,” said Wyden, who also claimed that the bank may have withheld evidence. The Senate Finance Committee’s review continues, with JPMorgan facing increasing scrutiny.
Crypto Users Alarmed by Strategy Reclassification Risk
The boycott movement gained more momentum after JPMorgan released research on the potential reclassification of firms like Strategy, formerly known as MicroStrategy. According to JPMorgan, these firms could be removed from MSCI equity indexes by January 2026.
The research report stated that the reclassification could label such firms as investment funds. This could result in forced outflows ranging from $2.8 billion to $8.8 billion, depending on how many index providers adopt the change.
Bitcoin advocates and crypto investors viewed the research as part of a larger pattern of targeting Bitcoin-related firms. Many users expressed concern that JPMorgan’s actions could influence broader market trends.
Speculation Around MSTR Position Increases Distrust
Unconfirmed reports have surfaced claiming that JPMorgan may hold a short position in MSTR, Strategy’s stock. Prominent Bitcoin advocate Max Keiser said the bank may have benefited if MSTR dropped before the MSCI changes were announced.
Keiser wrote, “JP Morgan dumps 25% of their MSTR position right before MSCI announces Bitcoin companies can’t enter major indexes.” His comments were shared widely and added to claims that the financial system is unfairly structured.
While the bank has not confirmed any such position, the timing of its report and MSTR’s price action has led to increased suspicion in online communities. Some believe the bank’s influence could harm firms aligned with Bitcoin’s growth.
Boycott Push Gains Support Across Crypto Community
Online campaigns urging users to withdraw funds from JPMorgan are spreading. Supporters are tying together the bank’s actions on both the Epstein case and its role in influencing crypto markets.
Phrases like “Crash JPMorgan, Buy MSTR and Bitcoin” are trending on crypto social platforms. Some users shared screenshots showing they had closed their accounts in protest.
The campaign’s growth reflects both the ongoing distrust of traditional banks and heightened sensitivity around Bitcoin-related investments. With regulatory investigations continuing and index changes approaching in 2026, JPMorgan’s actions remain under close watch.
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