Trump Suggests Bitcoin Critic Jamie Dimon as Potential Treasury Secretary

Former U.S. President and current Republican nominee Donald Trump has suggested JP Morgan Chase CEO Jamie Dimon as a potential Treasury Secretary candidate, commending the influential Wall Street figure and well-known Bitcoin skeptic in an interview released by Bloomberg Businessweek on Tuesday.

Expressing his admiration for Dimon, Trump stated, “I have a lot of respect for Jamie Dimon. He is somebody that I would consider.”

Dimon recently attended a meeting in Washington, D.C. alongside 70 CEOs from major corporations, which Trump characterized as a “lovefest.” During this gathering hosted by the Business Roundtable lobbying organization, Trump pledged to reduce the top marginal corporate tax rate to 20%, with a long-term goal of reaching 15%.

As Trump actively seeks support from the crypto community leading up to the U.S. presidential election in November, his positive remarks about Dimon underscore the latter’s established stance against the cryptocurrency industry.

While some influential CEOs like BlackRock’s Larry Fink have embraced Bitcoin as a legitimate financial asset, Dimon has maintained his critical stance over the years. He once stated during a Senate Banking Committee hearing that if he were in the government, he would shut down cryptocurrencies, emphasizing his longstanding opposition to crypto assets like Bitcoin.

Dimon’s potential appointment as Treasury Secretary under Trump would grant him significant influence over financial, economic, and tax policies, given his current position as CEO of JP Morgan Chase.

In contrast, former Treasury Secretary Steven Mnuchin, selected by Trump in 2016, labeled cryptocurrencies as a national security concern and emphasized the need to regulate digital asset service providers to prevent illicit activities.

Although Dimon has softened his stance on Bitcoin to some extent, acknowledging people’s right to hold the asset, he has compared his defense of Bitcoin to someone’s decision to smoke a cigarette.

Trump, on the other hand, has shifted his position on Bitcoin, transitioning from skepticism to support. After initially questioning the legitimacy of Bitcoin, Trump has criticized the SEC’s regulatory approach, accepted crypto donations, and defended America’s Bitcoin mining industry.

Dimon has also praised Trump, advocating for unity following a recent assassination attempt against Trump during a Pennsylvania rally. Dimon emphasized the importance of constructive dialogue to address the nation’s challenges and denounced political violence in a company-wide email.

The evolving dynamics between Trump, Dimon, and the crypto industry reflect the broader shifts in attitudes towards cryptocurrencies within the political and financial spheres.