Former United States president and current Republican ticket nominee Donald Trump said recently that, if elected, he was considering JP Morgan CEO Jamie Dimon for his cabinet as Secretary of the Treasury. He also intends to leave Federal Reserve chair Jerome Powell in place.Â
Trumpâs comments stem from an interview with Bloomberg reportedly conducted in late June and published on July 16. Itâs unclear if the former presidentâs thinking remains the same in the wake of the July 13 assassinaton attempt
Dimon?
This appears to be the first time Dimon has been publicly linked to a potential Trump administration. The two have had a somewhat cantankerous relationship in the past with Trump recently calling Dimon a âhighly overrated globalist in a Nov. 2023, post on Truth Social. For his part, Dimon previously urged people to support Trump opponent Nikki Haley for the Republican nomination.
During the recent Bloomberg interview, Trump said he had âa lot of respect for Jamie Dimon,â and would consider him for the position of Secretary of the Treasury.
While this doesnât necessarily indicate any serious consideration, the fact that Dimon isnât being ruled out could be cause for concern for the cryptocurrency and blockchain communities.
Crypto
In a hearing on Dec. 6, 2023, Dimon told Congress that the only true use-case for cryptocurrency is âcriminals, drug traffickers, money laundering, tax avoidance.â He added âIf I were the government, Iâd close it down.â This, despite the fact JP Morgan has its own blockchain token, JPM Coin.
It bears mentioning that Trump has also been negative on Bitcoin and crypto in general in the past as well. Back in 2019, while president, Trump posted a thread on X (then Twitter) expressing his disdain for digital currency:
âI am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.â
He went on to say that âwe have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!â
Trumpâs stance on Bitcoin appears to have softened in the time since. Heâs slated to speak at the Bitcoin Conference in Nashville on July 27.
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