JPMorgan freezes accounts of Blindpay and Kontigo over Venezuela sanctions exposure

JPMorgan has frozen the accounts of Y Combinator-backed stablecoin startups Blindpay and Kontigo due to their business links with Venezuela, which is under extensive U.S. sanctions. The bank, which works with other stablecoin firms, says the move is driven by legal and compliance risks tied to high‑risk jurisdictions. Around the same period, the Trump administration intercepted multiple Venezuelan oil tankers and expanded sanctions on shipping companies moving the country's crude.