Techub News reports that, according to Cointelegraph, JPMorgan Chase admitted to ending its banking relationship with Trump after the January 6, 2021 Capitol riot. This move ultimately prompted the Trump family to venture into the cryptocurrency space.
According to court documents disclosed last week by media outlets such as Fortune and CNBC, JPMorgan Chase’s former CEO Dan Wilkening acknowledged that the bank decided to close accounts related to Trump. This is the first time JPMorgan Chase has publicly admitted to this action. Wilkening wrote in the lawsuit filed by Trump against the bank, “In February 2021, JPMorgan Chase notified the plaintiff that several accounts held by the plaintiff at JPMorgan Chase Bank (CB) and Private Bank (PB) would be closed.” Trump filed a lawsuit against JPMorgan Chase in late January, alleging that the bank unlawfully terminated his accounts purely for political reasons, ultimately causing him and his family to be blacklisted. Trump is seeking $5 billion in damages from JPMorgan Chase.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
What signals did the US SEC send behind the new 2% discount regulation for stablecoins?
Author: Tonya M. Evans
Translation: Odaily Planet Daily Golem
On February 19, the U.S. Securities and Exchange Commission (SEC) Trading and Marketing Division released a new FAQ clarifying how broker-dealers should handle payment stablecoins under the net capital rule. Subsequently, SEC Cryptocurrency Working Group Chair Hester Peirce issued a statement titled "A 2% Discount Will Do."
Peirce stated that if broker-dealers apply a "2% discount" to their own positions in qualifying payment stablecoins when calculating net capital, rather than a punitive 100% discount, SEC staff would not object.
Although this may sound somewhat obscure, this accounting adjustment could be the beginning of a softening of the SEC's stance on cryptocurrencies since early 2025.
区块客21m ago
FED Kashkari blasts: Cryptocurrencies are "useless," stablecoins are a "hodgepodge of buzzwords"
Federal Reserve Chair Neel Kashkari strongly questions the practicality of cryptocurrencies, believing they have yet to prove any value, and compares their potential to that of artificial intelligence. He criticizes stablecoins for not bringing substantial upgrades to the financial system and argues that their advantages mainly do not target American consumers, highlighting his skepticism towards cryptocurrencies and contrasting with the government's supportive stance.
区块客3h ago
Central Bank of Brazil to Advance Institutional VASP Regulation by 2027
The central bank will focus on designing a regulatory framework for the so-called institutional VASPs, defined as organizations that operate infrastructure and provide crypto services to other institutions. The move would bring clarity to companies like Fireblock, Ripple, and Bitgo in the
Coinpedia4h ago
U.S. SEC Officially Reprices Stablecoin Risk, Boosting TradFi Integration
The U.S. SEC's recent policy change allows broker-dealers to treat certain dollar-pegged stablecoins as near-cash instruments. This change reduces capital requirements and encourages the integration of stablecoins into traditional finance, promoting efficiency and wider adoption in financial markets.
BlockChainReporter5h ago
The Bank of Korea calls on regulators to restrict the issuance of Korean won stablecoins to licensed commercial banks.
BlockBeats News, February 23, According to Cointelegraph, the Bank of Korea has called on regulators to restrict the issuance of Korean won-denominated stablecoins to licensed commercial banks, citing concerns over money laundering risks and financial stability.
GateNewsBot5h ago
Federal Reserve officials criticize: Stablecoin advantages haven't surpassed existing systems; crypto applications are basically nonsense
The President of the Federal Reserve Bank of Minneapolis, Kashkari, strongly criticizes cryptocurrencies for lacking real value, questions the advantages of stablecoins, and defends the independence of central banks. He pointed out that compared to artificial intelligence, cryptocurrencies have failed to demonstrate their economic utility, and emphasized the need to maintain the independence of monetary policy, which is in opposition to the crypto policies of the Trump administration.
CryptoCity9h ago
