Kontigo CEO Jesus A. Castillo has refuted claims by The Information that the company had its accounts closed by JPMorgan for compliance reasons. Castillo criticized the report as inaccurate and defamatory. He clarified that Kontigo operates as a technology company focused on self-custody, permissionless infrastructure, local stablecoins, and zero-knowledge proofs, rather than as a licensed financial institution. The issue, according to Castillo, stemmed from their U.S. virtual account partner, Checkbook, which unexpectedly terminated its services without prior notice, affecting global users, including Venezuelan immigrants.