Wu said that Kontigo CEO Jesus A. Castillo responded to The Information's report stating that the company's claim of being closed by JPMorgan for "compliance reasons" is false, and criticized the report as inaccurate and defamatory. Castillo stated that Kontigo is a technology company based on self-custody, permissionless infrastructure, local stablecoins, and zero-knowledge proofs, and is not a licensed financial institution. Its fiat on-ramp relies on licensed partners in various regions. The so-called issue stems from its US virtual account partner Checkbook, which previously promised to provide accounts for global users (including Venezuelan immigrants) but later terminated the partnership without prior notice and lacked sufficient support capabilities.