Union Bank Closes Ripple CTOs Banks Without Warning

Union Bank Closes Ripple CTOs Banks Without Warning

The Chief Technology Officer at Ripple, David Schwartz said some time ago that his main bank, MUFG Union Bank had closed all his accounts without him being warned or given any notice of what was happening.

The CTO has commented about what had happened to him after the host of CNBC’s Africa Crypto Trader show, Ran Neuner said that his bank had contacted him because they were concerned about his crypto-related deposits and withdrawals.

In response to the CNBC host, Schwartz explained that things could be worse and took the chance to remind people that this is why they shouldn’t do any crypto-related transactions through their main bank.

In another separate tweet by Schwartz he notes that what happened to him at Union Bank occurred a couple of years ago and the word ‘just’ in the above tweet is in regard to him "getting no warning or opportunity to explain, not it being recent."

Schwartz went on to give more details on how Union Bank had behaved:

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