Court documents indicate that JPMorgan de-banked Trump, with debanking one of the main reasons the Trump family turned to crypto.
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 filings seen last 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.
