President-elect Donald Trump confirmed on Thursday that JPMorgan Chase CEO Jamie Dimon will not be part of his incoming administration, ending speculation over the high-profile banker’s involvement in federal leadership. Trump addressed the matter directly on social media.
Donald Trump’s Firm Stance Against Jamie Dimon
Trump stated, “I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the Trump Administration.” The clarification from Trump comes amid earlier reports and rumors surrounding Dimon as a potential Treasury secretary candidate in the weeks leading up to the November 5 election.
According to a source last week, Dimon had no plans to leave his role at JPMorgan, where he has been a prominent and sometimes controversial figure in the financial sector, per a Reuters report. Dimon is an outspoken critic of Bitcoin and other cryptocurrencies, hence, it makes sense why a pro-crypto President like Trump wouldn’t assign him a role in his administration.
Dimon has frequently warned about potential regulatory challenges and the risks associated with digital assets. His stance has occasionally brought him at odds with pro-crypto voices, drawing both support and criticism within financial circles. Since, Trump is planning to launch a national strategic Bitcoin reserve, having an anti-crypto person like Dimon in his administration could lead to several hurdles with Senator Elizabeth Warren also retaining her Senate seat.
Meanwhile, it’s important to note that Pennsylvania state has already introduced a legislation to create a BTC reserve in the state, aligning with Trump’s goals. Hence, he needs a pro-crypto team to make the plan come true o a national level as the states have already started taking action.
