U.S. President Donald Trump filed a lawsuit against JPMorgan Chase and its CEO Jamie Dimon personally, accusing the institution of deliberate debanking. The politicianU.S. President Donald Trump filed a lawsuit against JPMorgan Chase and its CEO Jamie Dimon personally, accusing the institution of deliberate debanking. The politician

Trump Filed a Lawsuit Against JPMorgan Chase And Its CEO Over Debanking

  • Trump and companies affiliated with him demanded $5 billion from JPMorgan Chase.
  • The bank is accused of unjustified account closures and refusing to provide services.
  • Allegedly, the institution isolated Trump, his family, and associated individuals after the attempted storming of the Capitol by MAGA supporters.

U.S. President Donald Trump filed a lawsuit against JPMorgan Chase and its CEO Jamie Dimon personally, accusing the institution of deliberate debanking. The politician asked the court to deem the firm’s actions unlawful and to award $5 billion in damages.

The lawsuit alleges the intentional denial of access to banking services for Trump and individuals affiliated with him. According to the plaintiffs, in February 2021, after the attempted takeover of the Capitol by the politician’s supporters, JPMorgan Chase closed several accounts without any apparent reason.

Trump believes this happened for political reasons and as a result of pressure on both his family and related organizations. In addition, Dimon’s public statements allegedly caused the president significant reputational damage.

Commenting on the lawsuit in Davos, Trump said he should not have done it. CNBC quoted him as saying:

JPMorgan Chase allegedly did not explain the account closures in any way. In a public statement, the bank denied that it happened for political reasons, citing federal rules and regulations in force at the time.

The organization also said it supports the current administration’s efforts to end the practice of weaponizing the banking sector.

The plaintiffs are asking the court to deem JPMorgan Chase’s actions unlawful and to award $5 billion in damages.

As a reminder, in August 2025, Trump signed an executive order banning the debanking of a number of organizations, including crypto companies. The latter faced deliberate isolation under the Biden administration, a practice known as Operation Choke Point 2.0.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Trump and Newsom seen engaging in 'friendly banter' backstage: 'Gavin, we're good'

Trump and Newsom seen engaging in 'friendly banter' backstage: 'Gavin, we're good'

President Donald Trump and California Gov. Gavin Newsom engaged in a public war of words this week in Davos, Switzerland, but a Washington, D.C., insider revealed
Share
Rawstory2026/01/23 19:55
Visa Direct Enhances Mercuryo’s Real-Time Crypto-to-Fiat Conversions

Visa Direct Enhances Mercuryo’s Real-Time Crypto-to-Fiat Conversions

TLDR Mercuryo has partnered with Visa to offer near real-time crypto-to-fiat conversions through Visa Direct. The integration enables users to off-ramp cryptocurrency
Share
Coincentral2026/01/23 20:10
Vitalik Buterin lays out new Ethereum roadmap at EDCON

Vitalik Buterin lays out new Ethereum roadmap at EDCON

The post Vitalik Buterin lays out new Ethereum roadmap at EDCON appeared on BitcoinEthereumNews.com. At EDCON 2025 in Osaka, Ethereum co-founder Vitalik Buterin delivered fresh details of Ethereum’s technical roadmap, delineating both short-term scaling goals and longer-term protocol transformations. The immediate priority, according to slides from the presentation, is scaling at the L1 level by raising the gas limit while maintaining decentralization. Tools such as block-level access lists, ZK-EVMs, gas repricing, and slot optimization were highlighted as means to improve throughput and efficiency. A central theme of the presentation was privacy, divided into protections for on-chain “writes” (transactions, voting, DeFi operations) and “reads” (retrieving blockchain state). Write privacy could be achieved through client-side zero-knowledge proofs, encrypted voting, and mixnet-based transaction relays. Read privacy efforts include trusted execution environments, private information retrieval techniques, dummy queries to obscure access patterns, and partial state nodes that reveal only necessary data. These measures aim to reduce information leakage across both ends of user interaction. In the medium term, Ethereum’s focus shifts to cross-Layer-2 interoperability. Vitalik described trustless L2 asset transfers, proof aggregation, and faster settlement mechanisms as key milestones toward a seamless rollup ecosystem. Faster slots and stronger finality, supported by techniques like erasure coding and three-stage finalization (3SF), are also in scope to enhance responsiveness and security. The roadmap also includes Stage 2 rollup advancements to strengthen verification efficiency, alongside a call for broader community participation to help build and maintain these improvements. The long-term “Lean Ethereum” blueprint emphasizes security, simplicity and optimization, with ambitions for quantum-resistant cryptography, formal verification of the protocol, and adoption of ideal primitives for hashing, signatures, and zero-knowledge proofs. Buterin stressed that these improvements are not just for scalability but to make Ethereum a stable, trustworthy foundation for the broader decentralized ecosystem. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.…
Share
BitcoinEthereumNews2025/09/18 03:22