How the Trump Family Turned a Banking Fight Into a Crypto Empire

The starting point, by Eric Trump’s account, was debanking, the closing of bank accounts that he attributes to the family’s politics. “We came out of us being debanked… because we wore a hat that said Make America Great Again,” he said. He has claimed Capital One, JPMorgan, and Bank of America all pulled the family’s accounts.

For context, the banks have offered a different account. Responding to a lawsuit the Trumps filed, Capital One said it closes accounts only for “legally and regulatorily permissible reasons,” and the major banks have denied debanking customers over political affiliation. US banking-privacy laws largely prevent b...