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Former US President Donald Trump recently said he would consider appointing bitcoin critic Jamie Dimon as his Treasury secretary if he regains the White House, adding that the JPMorgan CEO “suddenly changed his tune” on cryptocurrencies.
Trump's comments were made during a interview with Bloomberg that was reportedly conducted in late June this year and published on July 16. He added that he had “a lot of respect for Jamie Dimon.”
Donald Trump and Dimon have a complicated relationship
Trump and the JPMorgan The CEOs have clashed in the past. In November 2023, the former president called Dimon a “vastly overrated globalist” via a post on Truth Social. Meanwhile, Dimon urged people to support Nikki Haley, who is Trump’s opponent for the Republican nomination.
While Trump’s recent comments do not necessarily indicate that Dimon is likely to assume that position in a new administration, his appointment would be a serious cause for concern for the crypto community.
He JPMorgan The CEO has been a vocal critic of digital assets in the past, calling cryptocurrencies a “fraud” and a “Ponzi scheme” in April.
Dimon tells Congress he would shut down cryptocurrencies if he were the government
During a hearing with Congress in December 2023, Dimon He said cryptocurrencies are only used by criminals and drug traffickers to get away with money laundering and tax evasion.
“If I were the government, I would shut it down,” he said, despite the fact that JPMorgan has its own blockchain token called JPM Coin.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”12.430976430976″>
I am not a fan of bitcoin or other cryptocurrencies, which are not money and whose value is highly volatile and based on nothing. Unregulated crypto assets can facilitate illegal conduct, including drug trafficking and other illegal activities…
— Donald J. Trump (@realDonaldTrump) twitter.com/realDonaldTrump/status/1149472282584072192?ref_src=twsrc%5Etfw”>July 12, 2019
Trump also has a history of criticizing bitcoin and cryptocurrencies in general. In 2019, while he was president, Trump posted on an x thread that he is not a fan of “bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
Trump has since changed his stance on cryptocurrencies and has promised to be the “crypto president” if he wins the November election. This shift came at a time when many voters continue to emphasize digital assets and the need for clear regulatory guidelines in the United States.
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