JPMorgan Chase admits for the first time that it closed Trump's account after the Capitol riot

According to Cointelegraph, Dan Wilkening, the former Chief Administrative Officer of JPMorgan Chase, acknowledged in court documents that the bank decided in February 2021 to close business and private banking accounts related to Trump. This is the first time JPMorgan Chase has officially recognized its implementation of "de-banking" against Trump.

Trump filed a lawsuit against JPMorgan Chase at the end of January this year, accusing the bank of illegally terminating his accounts for political reasons, placing him and his family on a reputational "blacklist," and seeking $5 billion in damages. His legal team characterized the acknowledgment as a "devastating concession." JPMorgan Chase spokesperson Trish Wexler responded that the closure of the accounts was based on legal or regulatory risks, not political or religious reasons.

Trump's son Eric Trump has repeatedly stated that it was due to experiencing "de-banking" that the family fully turned to the cryptocurrency sector. He revealed that Capital One had closed 300 of their bank accounts overnight, and this experience directly prompted him to lead the establishment of the Trump family's cryptocurrency platform, World Liberty Financial.