JPMorgan Admits to Debanking Trump After Capitol Riot
JPMorgan formally admitted in court filings that it closed accounts belonging to Donald Trump following the January 6th Capitol attack.Summary
JPMorgan's former chief administrative officer, Dan Wilkening, acknowledged in court filings that the bank decided to close accounts tied to Donald Trump in February 2021, marking the first official admission of this action. Trump is currently suing JPMorgan for $5 billion, alleging the bank unlawfully terminated his accounts for political reasons, placing him on a reputational "blacklist." Trump's legal team called the admission a "devastating concession." JPMorgan spokeswoman Trish Wexler stated the bank regrets the situation but closes accounts due to legal or regulatory risk, not political reasons. This alleged "de-banking" reportedly spurred Eric Trump to heavily embrace cryptocurrency, leading to the establishment of the family's crypto platform, World Liberty Financial.
(Source：Cointelegraph)