"When Donald Trump returned to office last year, he started going after some of the businesses and individuals who he believed had wronged him in the past. On the list were universities, white-shoe law firms, and some of America's largest banks. In a recent $5 billion lawsuit against JPMorgan Chase and its CEO, Jamie Dimon, which follows a similar suit from last year against Capital One, Trump alleged that he had been debanked on unfair grounds."
"In court filings, he accused each firm of closing his accounts in 2021 due to "political and social motivations" and "unsubstantiated, 'woke' beliefs" that they needed to distance themselves "from President Trump and his conservative political views." (The JPMorgan suit, which the company said has " no merit," arrived a day after Dimon publicly criticized the president's proposal to cap credit-card interest rates; Capital One has also denied Trump's allegations and filed a motion to dismiss the case.)"
The Trump family has profited heavily from cryptocurrency, with a reported $867 million added to their fortune. Don Jr., Eric, and affiliates have described digital assets as attractive to those who have been "debanked," framing crypto as a solution after alleged exclusion from traditional financial services. After returning to office, Donald Trump filed lawsuits against major banks, including a $5 billion suit against JPMorgan Chase and an earlier suit against Capital One, alleging account closures in 2021 were driven by "political and social motivations" and "unsubstantiated, 'woke' beliefs." JPMorgan and Capital One have denied the allegations and called the claims meritless. The family was indeed cut off from some services in 2021.
Read at The Atlantic
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