Trump Announces Lawsuit Against JPMorgan, Alleging Unfair Treatment in "Debanking"

Odaily News: Trump posted on his social media platform Truth Social, stating his plan to file a lawsuit against JPMorgan within the next two weeks. He accuses the bank of subjecting him to "unfair debanking" following the events of January 6, 2021. Trump denied a Wall Street Journal report suggesting that JPMorgan CEO Jamie Dimon had been proposed as a candidate for Federal Reserve Chairman, calling the claim "completely untrue."

The report notes that Trump and his family members have repeatedly stated publicly that several major U.S. banks have refused to provide them with financial services in recent years, prompting them to increase their focus on the crypto asset space. Trump's son, Donald Trump Jr., has said that it was precisely due to restricted access to banking services that the family was forced to enter the crypto industry, viewing crypto assets as a crucial direction for the future financial system.

Furthermore, the decentralized finance platform World Liberty Financial, which Trump supports, has applied for a banking license and launched the stablecoin USD1, attempting to establish a new business model bridging traditional and crypto finance. JPMorgan has previously denied engaging in "debanking" practices against clients and had not responded to Trump's latest remarks at the time of writing. (DL News)