JPMorgan concedes it debanked Trump after Capitol attack

CoinTelegraph

by Brian Quarmby

February 23, 2026

AI-Generated Deep Dive Summary

JPMorgan, one of the largest banks in the U.S., has admitted to de-banking Donald Trump following the January 6, 2021 Capitol attack. This decision by JPMorgan played a key role in leading the Trump family toward cryptocurrency. The move was part of a broader shift away from traditional banking for the former president and his associates. The bank’s former chief administrative officer, Dan Wilkening, confirmed in court filings that JPMorgan closed accounts tied to Trump in February 2021. This marked the first time the bank publicly acknowledged de-banking Trump, which came after the Capitol attack. The decision was reportedly made due to concerns over potential legal and reputational risks associated with Trump’s post-election activities. The Trump family’s transition to crypto gained momentum following JPMorgan’s actions. Crypto became a significant part of their financial strategy, reflecting a broader trend among individuals and entities seeking alternatives to traditional banking systems. This shift

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Originally published on CoinTelegraph on 2/23/2026