Trump has just officially sued JPMorgan Chase and its CEO Jamie Dimon, seeking damages of up to $5 billion.
The reason is simple and brutal: the bank closed his account in 2021 for 'political motives.' The irony of this event occurring is striking—just yesterday (January 22).
This is not just a commercial lawsuit; it is a signal of war against the centralized hegemony of TradFi (traditional finance). Jamie Dimon, as a representative of the old powers on Wall Street, has long criticized $BTC as a 'pet rock,' yet he is pleased with his own 'deletion rights.' If even a former U.S. president (the current president) can be arbitrarily cut off from financial services, who will ensure the safety of ordinary people's assets?
This event not only tore apart Wall Street's mask of 'political neutrality' but also served as the hardest core advertisement for cryptocurrency. The core value of decentralized finance lies in its resistance to censorship. When traditional banks wield a big stick due to ideology, blockchain code only follows consensus. The legal risks faced by JPMorgan highlight the irreplaceable hedging properties of $ETH and DeFi protocols.
The panic on Wall Street is often a celebration in the crypto market. When the credit system of the old world shows cracks, funds instinctively flow to the permissionless on-chain world. Instead of worrying about bank accounts being frozen, it's better to hold tightly to your private keys.
This 5 billion gamble may ultimately not have Trump as the winner, but rather Satoshi Nakamoto. Do you think traditional banks can emerge unscathed this time?
