JPMorgan admits to closing Trump's accounts after 2021 riot

JPMorgan has effectively admitted to closing U.S. President Donald Trump's accounts shortly after the 2021 Capitol riot, Cointelegraph reported. The admission was mentioned in court documents released last week. The Trump family has long claimed that banks have engaged in "de-banking" by blacklisting them and controlling their financial activities, arguing this was the reason they pursued cryptocurrency ventures like World Liberty Financial (WLFI). While the Trump family has filed a $5 billion lawsuit against JPMorgan for damages, the bank has countered that its decision was based on managing legal and regulatory risks, not political motives.