Donald Trump has sued JPMorgan CEO Jamie Dimon personally in a Miami courtroom. Trump is in search of $5 billion from Dimon and his $833 billion financial institution on allegations that Dimon unfairly debanked him.
Broadly talking, the lawsuit reinforces a well-liked gripe from sure members of the crypto group that banks unfairly prohibit entry to corporations with ties to crypto.
Allegations of debanking campaigns in opposition to crypto executives since 2020 — together with Trump and his household’s companies — have conspiratorial names like Operation Chokepoint 2.0, named after the US Justice Division’s 2013-2017 Operation Chokepoint enforcement in opposition to payday lenders and firearms sellers.
There’s some proof that banks scrutinized crypto corporations underneath that 2.0 title, but there’s polarized disagreement as as to whether it was overbearing or exterior the common scope of enforcement initiatives in opposition to a legitimately excessive–danger trade.
JPMorgan has already responded to Trump’s lawsuit, claiming it “has no merit” and reiterating that it didn’t shut accounts for political or spiritual causes.
Earlier this month, Trump promised to sue Dimon for allegedly debanking him after the January 6, 2021 protests on Capitol Hill.
Trump thinks Dimon determined to shut or prohibit his JPMorgan account following the riot.
