Trump refutes Bloomberg transcript he would consider Dimon for Treasury Secretary Trump refutes Bloomberg transcript he would consider Dimon for Treasury Secretary
Market observers said the three may find common ground with their recent interest in crypto.
2 min read
Updated: Jul. 25, 2024 at 10:30 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Former US President Donald Trump refuted reporting from Bloomberg suggesting he would consider JPMorgan Chase’s CEO Jamie Dimon or BlackRock’s Larry Fink for the Treasury Secretary position.
Bloomberg’s report was based on an interview with Trump at Mar-a-Lago on June 24, two days before the presidential debate. The interview was conducted by Bloomberg Senior Reporters Nancy Cook and Joshua Green, Managing Editor Mario Parker, and Businessweek Editor Brad Stone.
On July 23, Trump posted on his Truth Social account, stating he didn’t know who suggested that Fink or Dimon was under consideration for a role in his administration. He speculated that “perhaps the Radical Left” made these suggestions.
He wrote:
“I don’t know who said it, or where it came from, perhaps the Radical Left, but I never discussed, or thought of, Jamie Dimon or Larry Fink for Secretary of the Treasury.”
This denial follows several reports that suggested that Trump might consider Dimon for the Treasury Secretary role. While Trump hasn’t explicitly mentioned Fink, a separate report indicated that he sought economic insights from the BlackRock CEO.
These speculations arose despite Trump’s contentious relationship with the CEOs, which is marked by their differing economic and political views. Last year, Trump described Dimon as a “highly overrated globalist” because he believed the banking executive was supporting Nikki Haley’s presidential campaign.
Crypto unites
There are thoughts that the three may find common ground with their recent interest in crypto. Notably, Trump, Dimon, and Fink previously held hostile stances toward the emerging industry, but the sector’s enduring maturity appears to be changing their views.
Dimon previously called Bitcoin a “Ponzi scheme” and a fraud. However, Trump said Dimon had significantly softened his stance on crypto as his company, JPMorgan Chase, has advanced its interaction with the sector.
On the other hand, Fink has become a strong proponent of crypto. His company is among the issuers of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum and is also behind the fast-rising Ethereum-based money market fund BUIDL.
Meanwhile, Trump’s crypto posture has won him support from industry stakeholders, who believe his presidency would usher in an era of solid regulatory clarity and growth for the burgeoning sector.
Editor’s Note: Added information available in the full transcript of the Bloomberg interview from July 16. It states the following:
Trump: We had a great meeting, Jamie Dimon was there. I have a lot of respect for Jamie Dimon.
Interviewer: A future Trump Treasury secretary?
Trump: He is somebody that I would consider, sure. He was at the meeting. Tim Cook was right next to him.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
JPMorgan
JPMorgan Chase & Co is a global leader in financial services, offering solutions to the world’s most important corporations, governments, and institutions in more than 100 countries.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Jamie Dimon, an American billionaire, business executive and banker, has held the dual roles of chairman and CEO of JPMorgan Chase since 2005.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.