JPMorgan Chase has closed the corporate account of Swiss crypto exchange ShapeShift, as well as the personal account of its marketing head, Houston Morgan. The bank cited the need to protect its financial institution as the reason for the account closures. This move follows a similar action against Strike CEO Jack Mallers, underscoring the increasing friction between traditional banks and the cryptocurrency sector. The closure of these accounts highlights the operational challenges faced by crypto exchanges when traditional banking access is restricted. As a result, many in the industry are now exploring alternative financial infrastructures or seeking partnerships with specialized banking entities to ensure continued operations.