• JPMorgan concedes it debanked Trump after Capitol attack Court documents indicate that JPMorgan de-banked Trump, with debanking one of the main reasons the Trump family turned to crypto. • Cointelegraph in your social feed The largest bank in the US, JPMorgan, admitted to de-banking Donald Trump following the Jan. • 6, 2021 Capitol attack in a move that ultimately led the Trump family to start going down the crypto rabbit hole. • Dan Wilkening, JPMorgan’s former chief administrative officer, acknowledged that the bank had decided to close accounts tied to Trump, marking the first time JPMorgan has admitted to doing so on record, according to court filingsseenlast week by outlets including Fortune and CNBC. • “In February 2021, JPMorgan informed Plaintiffs that certain accounts maintained with JPMorgan’s CB [commercial bank] and PB [private bank] would be closed,” Wilkening wrote in a case involving Trump suing the bank. • Up until now, JPMorgan had failed to provide a concrete answer onthe de-bankingin court or in public.
Article Summaries:
- JPMorgan has confirmed it closed Donald Trump’s accounts after the Jan. 6 Capitol attack, a first‑ever admission by the bank. The move, revealed in court filings, prompted Trump’s lawsuit alleging unlawful political discrimination and seeking $5 billion in damages. JPMorgan’s spokesperson said the closures were driven by regulatory risk, not politics, and denied the suit’s merit. The de‑banking has pushed the Trump family toward cryptocurrency, with Eric Trump citing a shift to crypto after account closures and the launch of the World Liberty Financial platform.
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