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Devin and Maria discuss the Arctic Frost investigation and its impact on Trump Media and Technology Group and Truth Social.
- Devin asserts that Trump Media and Technology Group (TMTG) would not have been involved in Arctic Frost, since TMTG became a public company in 2024 and “we were nowhere around in 2021 on January 6,” questioning why Trump Media was subpoenaed during the investigation.
- He questions JPMorgan Chase’s actions, asking why the bank would comply with Arctic Frost targeting TMTG’s bank records if the company did not exist in January 2021, noting that TMTG was never notified.
- Devin explains that when Arctic Frost targeted their bank records, TMTG did not exist as a public or private entity at that time. He asks what reason JPMorgan had to pursue them, and he questions whether JPMorgan targeted TMTG and did not inform them, suggesting potential Florida law implications and possible federal law implications.
- He recounts that during the period when they were private and preparing to go public, JPMorgan “debanked” TMTG at a critical moment in early 2024, during the campaign, even though they were seeking to deposit $250,000,000. Devin notes they had other banks in line (Citizens), but JPMorgan acted at that time.
- Devin claims JPMorgan later indicated they do not close accounts for political reasons, citing a statement they gave to Fox News in August that they do not debank for political reasons and that regulatory change is needed, but he questions whether that policy held true at the time TMTG was debanked.
- He states that now it is clear TMTG was caught up in Arctic Frost and emphasizes that they were a company going public with hundreds of thousands of shareholders worldwide and no debt, with an SEC approval, and therefore questions why JPMorgan would debank a company entering the market.
- Devin says they will pursue all legal avenues under Florida and federal law to determine what JPMorgan knew, when they knew it, and whether there was coordination with anyone within the administration or the Justice Department, insisting that all communications JPMorgan had regarding their account be disclosed.
- He adds that the Department of Justice and the dragnet affected hundreds of Americans, noting the broader scope of people wrapped up in these investigations.
- The conversation highlights the overarching concern about potential political influence on financial institutions and the transparency of actions taken by JPMorgan during the Arctic Frost investigation.