Jack Mallers' account closure at a traditional financial institution: tensions between crypto and conventional banking

The founder of Strike, a platform specializing in Bitcoin payments and transfers, Jack Mallers, announced via social media that a major financial institution has suspended his personal account. According to the official notification sent on September 2, 2025, the measure was based on allegations of unusual transactions and alleged deficiencies in compliance protocols, specifically related to international banking regulations.

This incident reflects the growing friction between the digital asset ecosystem and traditional financial institutions. Although Strike has gained prominence as a Bitcoin-based payment method, particularly in emerging markets, its founder is now experiencing the consequences of these tensions in his personal life.

The suspension of accounts for crypto sector entrepreneurs by large financial institutions is an increasingly common practice. These actions spark debates about financial accessibility for professionals in the digital ecosystem and the divergent interpretations between traditional regulators and the crypto world regarding what constitutes “suspicious activity” in digital asset operations.

Jack Mallers, who has been a visible figure in promoting Bitcoin as a functional payment tool, now faces obstacles from the traditional financial system that Strike seeks to complement or, in certain aspects, disintermediate.