While testifying before United States lawmakers, JPMorgan Chase CEO Jamie Dimon referred to himself as a “major skeptic” on “crypto tokens that you call currency like Bitcoin,” labeling them as “decentralized Ponzi schemes.”
Dimon was asked what keeps him from being more active in the crypto space during an oversight hearing held by the House Financial Services Committee on Sept. 21. Dimon emphasized that he sees value in blockchain, decentralized finance , ledgers, smart contracts, and “tokens that do something," but then proceeded to lambast crypto tokens that identify as currencies., Dimon said he believes that there is nothing wrong with stablecoins that are properly regulated and that the regulation should be similar to what money market funds are subject to.
on a personal level. He has softened his stance on crypto on occasion, once highlighting that it can serve important use cases at times such as cross-border payments. Despite Dimon’s views on the cryptocurrency space, JPMorgan has been pushing into the blockchain technology space. The financial giant launched its own in-house stablecoin — JPM Coin in October 2020 — the firstA week after rolling out the coin, the bank launched a new business division dedicated to blockchain technology called Onyx. Since then the Onyx platform has been utilized by large institutional customers for round-the-clock global payments.
I don't think he knows anything about it at all.
Says the guy running the biggest ponzi of all
Centralized Ponzi Scheme is JPMorgan
They post this then buy bitcoin !!! They want ur bitcoin for less and then sell it back to you for more !! jpmorgan
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What a joke he is.
Funny that less than a week ago they said China’s Metaverse related economy could reach $4T and now they're saying this 🫢
He is absolutely right. Tokens come out like diarrhea. Its all nonsense bullshit btc is the only 1 that matters all others are a copy
Well you know. Super rich guy arguing on behalf of his own vested interests. Hardly a neutral commentator. He’s the Michael Saylor of banking.
Isn't FUD a form of perjury? My thought is that he has a right to say what he wishes in public, but before a Congressional Hearing I would expect truthfulness. Ha! I just heard myself!!
Seems to be differing opinions within JPMorgan, some execs are bullish, they've invested/backed some big $ (b/chain startup Ownera) and see articles with execs from JPM positive on crypto 😆
Well structured defi is a threat to this regimes central control of currency, so of course they are going to slander it. It is to be expected, and easy to brush aside. Just look at how many crashes the federal reserve has enabled in U.S history. They have legitimacy after this?
Except for Chases of course.
This is a buy flag
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