JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon has pushed back against claims that the banking giant had debanked President Donald Trump-backed Trump Media & Technology Group Corp. (NASDAQ:DJT), saying that the move was in response to court orders.
We Do Not Debank For ‘Religious Or Political Affiliations’
On Sunday, Dimon said, “people have to grow up” when asked about JPMorgan being subpoenaed as part of a special counsel investigation, which required the company to turn over the banking records of Trump Media, during his appearance on Fox Business’ “Sunday Morning Futures.”
While declining to address any individual account, Dimon insisted the bank's actions were driven by legal obligations, while adding that they don’t “debank people for religious or political affiliations.”
See Also: Trump Sons’ New America SPAC Rallies 4.7% In $300 Million Debut
“I don’t like debanking people,” he said, while pointing to systemic compliance issues under the current regulatory framework that effectively forces banks into roles that they don’t want.
“We don’t give information to the government just because they ask. We’re subpoenaed. We’re required by court to give it to the government,” Dimon said.
He concluded by saying, “Let’s take a deep breath and fix the problem as opposed to blame someone who’s put in that position.”
Trump Media did not immediately respond to Benzinga’s request for a comment on this matter. This story will be updated as soon as we receive a response.
Being Debanked Influenced Trump’s Views On Crypto
Earlier this year, Donald Trump Jr. revealed that he and his brother Eric Trump played a key role in shaping their father's views on cryptocurrencies like Bitcoin (CRYPTO: BTC), which was largely influenced by their experience of being de-banked for their political views.
“We were real estate guys, we were hard assets, we built buildings — [bitcoin] was a bit nebulous,” Trump Jr said during the Bitcoin 2025 conference in Las Vegas.
“But once we got into that political sector…we were getting de-banked, we were getting de-insured, we were getting de-everything. It was brutal,” he added, which eventually prompted the family’s shift toward digital assets.
The Trump Media & Technology Group had announced plans to raise $2.5 billion to invest in Bitcoin this year and held 11,542 Bitcoins as of the end of September, which puts its current value at $1.05 billion.
This is in addition to the Trump family’s other crypto projects, such as the Official TRUMP memecoin (CRYPTO: TRUMP) and World Liberty Financial (CRYPTO: WLFI), which have faced criticism for their lack of transparency and potential conflicts of interest.
Shares of Trump Media & Technology Group score poorly in Benzinga’s Edge Stock Rankings, with a low Momentum score and an unfavorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, the company and its operations.
Read More:
Photo Courtesy: Lev Radin on Shutterstock.com
