JPMorgan Chase acknowledges terminating banking relations with Trump after the 2021 Capitol riot.

Techub News reported, according to Cointelegraph, JPMorgan Chase acknowledged that it terminated its banking relationship with Trump following the January 6, 2021 Capitol riot, a move that ultimately prompted the Trump family to venture into the cryptocurrency field.

According to court documents disclosed by media outlets such as Fortune magazine and CNBC last week, Dan Wilkening, former Chief Administrative Officer of JPMorgan Chase, admitted the bank's decision to close accounts associated with Trump, marking the first time JPMorgan has publicly acknowledged this action. In the lawsuit filed by Trump against the bank, Wilkening wrote: "In February 2021, JPMorgan Chase notified the plaintiff that several accounts held at JPMorgan Chase Commercial Bank (CB) and Private Bank (PB) would be closed." Trump filed a lawsuit against JPMorgan Chase in late January, alleging that the bank illegally terminated his accounts purely for political reasons, ultimately placing him and his family on a reputational "blacklist." Trump is seeking $5 billion in damages from JPMorgan Chase.