Trump sues JPMorgan for $5B, alleging political debanking

U.S. President Donald Trump has filed a $5 billion lawsuit against JPMorgan and its CEO, Jamie Dimon, according to Walter Bloomberg. The suit alleges that the bank closed Trump's accounts in 2021 for political reasons. Trump claimed that JPMorgan blacklisted him and his associated businesses, wrongfully terminating their accounts and causing financial loss and reputational damage. He asserted that this is a classic example of political debanking, aimed at excluding those with different political views from the financial system. JPMorgan maintains its position that it has never closed a client's account due to political views. The Trump family has previously mentioned that past experiences with debanking sparked their interest in cryptocurrency.