Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, mocked major Wall Street banks by likening them to “dinosaurs” in a social media post.
The jab followed the discovery of a new dinosaur species in South Korea, which Gemini used to criticise traditional finance institutions including Bank of America, JPMorgan Chase, Vanguard, and Wells Fargo.
Crypto firms have long argued that decentralised finance could eventually replace or disrupt legacy banking systems.
The comments also reflect Gemini’s strained relationship with JPMorgan, one of the world’s largest banks with more than 225 years of history.
In July last year, Gemini accused JPMorgan of attempting to “kill fintech and crypto companies” by restricting access to banking infrastructure.
Tyler Winklevoss claimed the move was part of a broader effort dubbed “Operation ChokePoint 2.0,” alleging coordinated attempts by banks to limit crypto firms’ access to financial services.
The exchange’s latest remarks highlight ongoing tensions between crypto platforms and traditional financial institutions as competition between DeFi and TradFi continues to intensify.