US President Donald Trump has threatened to sue JPMorgan Chase, the latest in an ongoing rift with banks that members of the first family say pushed them into crypto.
Writing on his social media platform, President Trump set his sights on a weekend on Saturday Wall Street Journal story in which JPMorgan CEO Jamie Dimon said he had been offered the role of chairman of the Federal Reserve.
“This statement is completely untrue, there has never been any such offer and in fact I will be suing JPMorgan Chase in the next two weeks for improperly and improperly DEBANKING me after the January 6 protest, a protest that turned out to be right for those protesting – the election was rigged,” the message said.
(@realDonaldTrump – Truth social post)
(Donald J. Trump – January 17, 2026, 11:13 AM ET)
A front-page article in The Fake News Wall Street Journal states, without any verification, that I offered Jamie Dimon of JPMorgan Chase the position of Fed Chairman. T… pic.twitter.com/gQc41kUVcF
– Donald J Trump posts TruthSocial (@TruthTrumpPost) on January 17, 2026President Trump and his sons have made further inroads into the world of crypto after claiming that some of America’s largest banks had cut them off from banking services. The Trump family has released a number of digital asset products, and most recently, Trump-backed decentralized finance platform World Liberty Financial applied for a banking license this month.
Debanking row
President Trump claimed last year that JPMorgan Chase cut him off as a client before Bank of America also denied him services.
His son, Donald Trump Jr., said his family had no choice but to get into digital assets after banks refused to provide them with services following the 2021 attack on the US Capitol.
“We started with crypto because we no longer had a bank,” he said in one Fox News interview last year. “We had to come up with solutions,” he continued, adding that crypto was the most efficient way and “definitely the future of banking.”
Eric Trump blasted Capital One for being “woke” and said the Trump Organization would sue the ban for denying service.
JPMorgan has turned away bank customers in the past. The bank did not immediately respond to questions from DL news.
Crypto to the rescue?
Trump’s Saturday threat comes as the president and his family try to take over TradFi services using crypto.
Trump-backed World Liberty Financial, a lending and lending platform running on Ethereum, has its own stablecoin, USD1, and wants the digital token to be used by institutions and everyday people for payments, said Zak Folkman, co-founder and COO at World Liberty Financial. DL news earlier this month.
In an effort to make the stablecoin work, World Liberty Financial applied for a banking license, joining other top crypto companies in a move that traditional lenders have criticized.
World Liberty Financial says on its website that it wants to “unlock financial access for everyone by replacing the boundaries of traditional banking.”
War with the Fed
President Trump’s war with JPMorgan comes as the Republican battles with the US central bank.
The Justice Department this month targeted the Federal Reserve with grand jury subpoenas and threatened criminal charges against its chief, Jerome Powell.
JPMorgan CEO Jamie Dimon this week criticized the Justice Department’s actions, saying attacks on the Fed could undermine its independence.
Since President Trump became US leader again last year, he has repeatedly attacked Powell and urged him to cut interest rates.
Mathew Di Salvo is a news correspondent at DL News. Do you have a tip? Email at [email protected].
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