Here is Who Trump Considers for Treasury Secretary

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Former U.S. president and Republican presidential candidate Donald Trump mentioned that JP Morgan Chairman and CEO Jamie Dimon has adjusted his stance on Bitcoin and cryptocurrencies. Trump indicated he would consider appointing Dimon as Secretary of the Treasury.

In a Bloomberg interview, Trump noted Dimon’s evolving perspective on Bitcoin, highlighting U.S. leadership in the crypto sector. Although the interview was published recently, Trump’s comments were made in June. He mentioned that he had become acquainted with prominent individuals in the crypto industry, describing them as top-notch, and pointed out Dimon’s softened stance on Bitcoin.

When asked about selecting Dimon for the Treasury role, Trump affirmed he would consider it.

Back in 2016, Trump’s transition team had offered Dimon the Treasury position, but he declined. More recently, in December 2023, Dimon was again being considered for the role, according to Axios.

Dimon, a longtime critic of Bitcoin, labeled it a “fraud” in 2017 and threatened to fire any JP Morgan trader dealing with it. At the start of the year, he repeated his view that cryptocurrencies are akin to Ponzi schemes but by March, he expressed support for individuals’ rights to buy and hold Bitcoin, indicating a shift in his stance.

Despite his crypto criticisms, Dimon has consistently supported blockchain technology. In 2022, he praised decentralized finance (DeFi) and blockchain as “real, new technologies” in a letter to JP Morgan shareholders. JP Morgan has been at the forefront of experimenting with distributed ledger technology, developing several blockchain-based products, including the Liink network and JPM Coin.