Growing Boycott Against JPMorgan as Epstein Ties and Strategy Index Controversy Resurface

A grassroots movement urging a "boycott of JPMorgan" is gaining traction on social media, with many users reportedly shutting down their accounts.

Key Takeaways

A grassroots boycott against JPMorgan is growing on social media following allegations of downplaying Jeffrey Epstein's transactions.
MSCI's plans to remove cryptocurrency firms from its indexes are a primary catalyst for the backlash.
Speculations about JPMorgan's trading positions against MSTR have intensified distrust within the crypto community.
Unsealed documents reveal JPMorgan filed suspicious activity reports concerning Epstein but may have delayed reporting while he was alive.
The ongoing scrutiny could significantly impact JPMorgan's reputation and operations in the coming months.

The banking giant is accused of launching a “coordinated attack” on Bitcoin and shareholders of Strategy (MSTR). The uproar escalated after recent Senate documents revealed that JPMorgan may have downplayed Jeffrey Epstein’s questionable transactions over the years.

Reasons Behind the JPMorgan Boycott

The backlash originated after reports indicated that MSCI intends to exclude cryptocurrency treasury firms, including Strategy (previously MicroStrategy), from its indexes, set to take effect in January 2026.

JPMorgan’s research pointed out the risk of this exclusion, which could lead to significant reclassifications of firms like Strategy as investment funds. Analysts estimate that this could lead to outflows as high as $2.8 billion, and possibly reaching $8.8 billion if other firms follow suit.

Additionally, cryptocurrency advocate Max Keiser highlighted unverified claims that JPMorgan has taken a short position in MSTR. He warned that this position could be concerning if MSTR were to rise 50% above its closing price from last Friday.

“JP Morgan dumps 25% of their MSTR position right before MSCI announces Bitcoin companies can’t enter major indexes. Nothing to see here. Just another perfectly timed institutional trade. The game is rigged, but Bitcoin doesn’t care about their indexes,” remarked a crypto watchdog.

This speculation has intensified existing suspicions against JPMorgan within the cryptocurrency community, prompting Bitcoin and Strategy supporters to encourage users to withdraw funds from the bank in protest.

“CRASH JP MORGAN, BUY MSTR (& BITCOIN),” Keiser tweeted.

“I closed my JPM account and moved everything to Wells. Also, avoid using Chase credit cards if you’re worried about fraud. More updates to come,” Grant Cardone posted.

Connections Between Jeffrey Epstein and JPMorgan

The discussion around the boycott has also led to increased scrutiny of JPMorgan’s ties to Jeffrey Epstein. Unsealed court documents from late October revealed that the bank filed a suspicious activity report (SAR) in 2019, shortly after Epstein’s death.

This report detailed transactions linked to Epstein and various business associates, as well as transfers made to banks in Russia. JPMorgan indicated that there were around 4,700 transactions amounting to over $1 billion.

“The SARs validate what we’ve suspected all along: the bank had filed SARs about Epstein early on, particularly when it severed ties with him in 2013, and consistently from 2013 to 2019 as mandated. However, it seems no government or law enforcement agency acted on those SARs for years,” stated JPMorgan’s spokesperson Patricia Wexler.

Despite this, an analysis by Ron Wyden, a key member of the Senate Finance Committee, claimed that JPMorgan had protected Epstein. Wyden concluded that the bank flagged only a few minimal irregularities while Epstein was alive, noting transactions worth just over $4.3 million.

It was only after Epstein’s death in custody that JPMorgan submitted extensive suspicious activity reports covering transactions worth nearly $1.3 billion over a decade—a staggering increase from earlier reports which lagged behind at about 300 times less.

“It’s evident that JPMorgan Chase should face a criminal investigation over how it facilitated Epstein’s heinous crimes. Bank executives dismissed compliance officers who raised alarms about Epstein’s transactions, seemingly withheld evidence of potential money laundering, and coached Epstein on how to mask suspiciously large cash withdrawals. This reflects more than a simple compliance failure; it’s hard to believe that the decisions leading to this situation didn’t reach the highest levels of the executive suite,” declared Senator Wyden.

As the boycott continues to grow and regulatory scrutiny increases, JPMorgan finds itself under pressure from multiple fronts. The upcoming months, particularly as the 2026 MSCI reclassification approaches and Senate investigations persist, will determine the trajectory of this backlash—whether it diminishes or develops into a more significant challenge to the bank's reputation and authority.