Former President and current Republican nominee Donald Trump has hinted at the possibility of appointing JPMorgan CEO Jamie Dimon as the Secretary of the Treasury if he wins the election. Trump also plans to retain Federal Reserve Chair Jerome Powell. He might provide more details at the Bitcoin Conference in Nashville from July 25-27.
This potential appointment was mentioned in a Bloomberg interview conducted in late June and published on July 16. It remains uncertain if Trump's stance has changed following an assassination attempt on July 13.
This is the first public suggestion of Dimon joining a Trump administration, despite their past contentious relationship. Trump had previously called Dimon a "highly overrated globalist" in a November 2023 post on Truth Social. Dimon has also supported Trump's rival, Nikki Haley, for the Republican nomination.
In the Bloomberg interview, Trump expressed respect for Dimon and said he would consider him for the Treasury role. Although this doesn’t confirm any serious consideration, it raises concerns within the cryptocurrency and blockchain communities.
Dimon is known for his negative views on cryptocurrency. In a December 2023 congressional hearing, he stated that the main use cases for cryptocurrency were criminal activities and tax avoidance, and suggested the government should shut it down. This is despite JPMorgan's own blockchain token, JPM Coin.
Trump has also been critical of Bitcoin and cryptocurrencies in the past. In 2019, he posted on X (formerly Twitter) that he was not a fan of Bitcoin and other cryptocurrencies, describing them as volatile and unreliable. He emphasized the strength and reliability of the US Dollar as the only real currency in the USA.
However, Trump's stance on Bitcoin seems to have softened, as he is scheduled to speak at the Bitcoin Conference in Nashville on July 27.
