financial

President Donald #Trump is suing JPMorgan Chase and Co. and  CEO Jamie Dimon for at least $5 billion in damages. He is accusing the bank of illegally terminating his accounts because of political reasons.
The complaint was filed on Thursday in Miami-Dade County. It is the most publicized legal splash so far in Trump’s revitalized efforts to stop what he termed politically-motivated attempts by large American #financial institutions to debank him.
Trump Cites Political Reasons For JPMorgan’s Debanking
In a filing cited in a Bloomberg report, Trump asserted that JPMorgan suddenly halted its banking services to him, his companies, and other entities associated with him without prior notice. The claims in the lawsuit include trade libel, breach of the implied covenant of good faith, and violation of Florida’s Deceptive #Trade Practices Act (FDUTPA).
The filing is happening a few days after a Coingape report stated that Trump would sue JPMorgan in weeks for the same reason. The legal team of Trump claimed that the decision would cause major financial and reputational damage.
The court document says JPMorgan shut down Trump-related accounts approximately seven weeks following the January 6, 2021, U.S. Capitol riot.
Trump also claimed that the bank did not do so because of risk exposure, but because it was best not to associate with him at that time due to his political ideology, which was deemed conservative.
The filing also alleged that #JPMorgan blacklisted Trump, the Trump Organization, and his family members. Thus, this denied them wealth management services.
JPMorgan Rejects Claims But Faces Scrutiny
JPMorgan has strongly dismissed the charges. In a quote from the Bloomberg article, the bank stated that it does not shut accounts based on political or religious grounds.
The banking giant claimed that it can sometimes terminate accounts due to legal, regulatory, or compliance risks. However, it asserted that, in many cases, changing regulatory expectations prompt a bank to make such a decision. It is worth noting that JPMorgan has also faced allegations of debanking #crypto stakeholders.
Senator Lummis once called out JPMorgan for allegedly debanking Bitcoin advocate Jack Mallers. Meanwhile, Tyler Winklevoss, Gemini’s co-founder, claimed that JPMorgan Chase halted their onboarding process.
The legal filing that Trump has submitted makes reference to Florida laws. These forbid the termination of any customer account by a financial institution on the basis of political opinions or affiliations.

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By instantly converting currency A to #xrp and then to currency B, capital that was previously idle is freed up for other operations, generating massive cost savings for well-developed international remittances.
$XRP

Big traditional banks such as JPMorgan, PNC, and American Express are increasingly partnering with Coinbase and its Base blockchain platform, signaling a major shift in how money moves between conventional finance and the crypto world. This collaboration is reshaping financial services and accelerating mainstream crypto use in ways many did not expect.

In 2025, JPMorgan established a groundbreaking partnership with Coinbase that allows Chase customers to link their bank accounts directly to Coinbase. This makes buying and using cryptocurrencies simpler than ever. Users can use their Chase credit cards to purchase digital assets and even convert their credit card rewards into stablecoins on the Base blockchain. PNC Bank has followed suit by using Coinbase’s secure Crypto-as-a-Service platform, enabling its clients to safely buy, sell, and store digital assets through PNC’s banking infrastructure. Meanwhile, American Express is preparing to launch the Coinbase One Card, a credit card that pays bonuses in bitcoin and offers staking rewards on Base.

Why are these banks rushing to partner with Coinbase and use Base? The answer is clear: the crypto revolution is happening fast and banks cannot afford to be left behind. Regulatory issues are becoming clearer and customer demand is rising quickly. Coinbase benefits greatly from this arrangement because every transaction on decentralized exchanges built on Base generates fees for Coinbase. Additionally, Coinbase earns revenue as the Base sequencer, which is responsible for processing and ordering transactions on the blockchain. Base now leads among Ethereum Layer 2 solutions in decentralized exchange volume and holds the highest value locked in DEX activity.

This creates a powerful cycle. Banks funnel customer orders and transactions through Base, increasing activity and volume. Higher volume means Coinbase earns more from transaction fees and sequencer revenue. Seeing this success, more banks realize that partnering with Coinbase and adapting to crypto infrastructure is essential to remaining competitive. JPMorgan’s new pilot token on Base suggests that future money may exist in both traditional and crypto forms simultaneously.

For many new users, Base is their first crypto experience through viral meme coins. This introduction often leads them to explore more complex decentralized finance applications. As banks route more flow through Coinbase and Base, Coinbase emerges as a core financial infrastructure, not just an exchange. Adaptation is now a necessity for banks or they risk losing influence in the evolving digital economy.
#FedGovernorVacancy #Financial