2026-01-18 02:30:32

The recent turmoil in the crypto world has been quite intense. American businessman Trump announced plans to sue a major bank within two weeks, citing allegations of "debanking" following an incident in early 2021. The background of the story is as follows—Trump and his family have publicly criticized multiple times that major US banks collectively refused to provide them with financial services, which instead pushed them into the embrace of crypto assets.

Listen to what his son has to say: It was precisely because of limited banking services that the family was forced to enter the crypto industry. This is not just casual talk. The decentralized finance platform supported by Trump has already applied for a banking license and launched its own stablecoin USD1, clearly aiming to carve out a new path between traditional finance and crypto finance.

JPMorgan previously denied any "debanking" behavior but has not responded directly to the latest lawsuit threat. Behind this conflict, it actually reflects a subtle shift in the attitude of traditional financial systems toward crypto assets. When banks close their doors, capital will jump out through another window. Could crypto assets become this exit? The market is providing the answer.

USD1-0,01%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

6 Likes

Reward
6
5
Repost
Share

Comment

0/400

NFTRegretter

· 11m ago

The banks shut them out, which in turn has benefited crypto. It's a bit ironic.

View OriginalReply0

BearWhisperGod

· 2h ago

Banks forcing people into the crypto world, this move is absolutely brilliant --- Wait, USD1 stablecoin? Another one? Really thinking of themselves as a central bank --- JPMorgan pretending to be deaf and mute, it’s hilarious, they’re feeling guilty --- Basically, being debanked made me realize that crypto is truly free --- Lawsuit aside, the key move with stablecoins is just a token gesture --- The arrogance of banks is actually paving the way for the future of crypto? Interesting --- A family forced into the crypto world, now they’re building platforms in return—who wrote this script? Truly brilliant --- Capital seeks profit, banks close their doors while crypto opens windows—this is the reality

View OriginalReply0

TerraNeverForget

· 2h ago

The bank closed its doors, and this guy directly jumped into the crypto world... This script is a bit intense.

View OriginalReply0

AirdropHunterKing

· 3h ago

Oops, this USD1 stablecoin has been declared. I need to quickly check the contract address, so it doesn't turn out to be another scam coin. Wait, no, this time JPMorgan Chase is really cornered. The bank closing down might actually give us the opportunity to profit? Trump played this move well. After de-banking, he turned around and did DeFi. This deal is a win-win. Is it true? Applying for a banking license on a decentralized platform—can it pass? I need to triple check the contract interactions. Haha, this is what you call a mantis catching a cicada. The bank's mistake ended up pushing the entire ecosystem into crypto. Brilliant. Instead of waiting for their lawsuit results, why not first see what interactions USD1 can get for free? This situation feels very much like how we were cut by exchanges in the early days, but then found a way to profit from new tokens. JPMorgan Chase is really cornered this time. Whether they fight or not, they’re stuck. This game is finally a direct confrontation between traditional finance and crypto.

View OriginalReply0

mev_me_maybe

· 3h ago

Banks close, crypto comes to the rescue—this script is really well written, haha

View OriginalReply0