Crypto Industry Calls for Boycott After JP Morgan Excludes Crypto Treasury Firms

JP Morgan has sparked controversy by excluding crypto treasury companies from its major market indexes, leading to calls for a boycott of the financial institution from industry advocates and supporters. This decision has ignited tensions between traditional finance and the burgeoning crypto sector, with critics arguing it represents bias against decentralized innovation. Many in the industry see JP Morgan’s move as an attempt to suppress Bitcoin-related firms and limit their visibility in investment portfolios. The exclusion of companies that hold Bitcoin on their balance sheets from key market indexes like the S&P 500 and Dow Jones Industrial Average will directly impact investors who rely on these indices for exposure. This decision affects entities like MicroStrategy, Tesla, and others known for incorporating Bitcoin into their financial strategies. Experts believe this move could hinder corporate adoption of Bitcoin and crypto assets. Protests have emerged online with calls to boycott JP Morgan’s services as a response to this exclusion. The crypto industry is calling for increased decentralization, transparency, and separation from institutions they see as working against the growth of digital assets. This latest development underscores the ongoing friction between traditional finance and the crypto market.