Skip to main content

JPMorgan CEO Jamie Dimon Skeptical of Crypto but Says ‘Not All of It Is Bad’

https://motleybloggers.com/wp-content/uploads/2022/05/jpmorgan-ceo-jamie-dimon-skeptical-of-crypto-but-says-not-all-of-it-is-bad.jpg

JPMorgan CEO Jamie Dimon Skeptical of Crypto but Says 'Not All of It Is Bad'

Jamie Dimon, the CEO of JPMorgan Chase, says that he does not particularly like crypto but will defend your right to invest in it. However, he sees benefits in some aspects of digital currency.


JPMorgan’s Jamie Dimon on Crypto, Digital Currency


JPMorgan Chase CEO Jamie Dimon talked about cryptocurrency in an interview with KMTV 3 News Now in Omaha Friday ahead of the Berkshire Hathaway annual shareholders meeting this weekend.


Commenting on cryptocurrency, including bitcoin, the JPMorgan boss said:


I always say I don’t particularly like it. I defend your right to do it. I’d say be very, very careful how much money you put into it.


However, Dimon sees benefits in some aspects of crypto, such as its technology, admitting that the banking industry has its inefficiencies. The executive opined:


Not all of it is bad. If you said to me ‘I want to send $200 to a friend in a foreign country,’ that could take you two weeks and cost you $40. You could do it through a digital currency and it’ll take you seconds.


“So, it’ll work out. I think it will be adopted over time by lots of players out there, including banks,” he concluded. However, he did not specify whether he is referring to cryptocurrencies, stablecoins, central bank digital currencies (CBDCs), or his own JPM Coin.


JPMorgan Chase has its own digital currency called JPM Coin. Dimon previously described: “We use a blockchain network called Liink to enable banks to share complex information, and we also use a blockchain to move tokenized U.S. dollar deposits with JPM Coin.” The JPM Coin website states that the coin “facilitates real-time value movement, helping to solve common hurdles of traditional cross-border payments.”

Dimon has long been a bitcoin and crypto skeptic. In November last year, he warned people to be careful when investing in crypto citing that it has no intrinsic value. In October, he said bitcoin was worthless and questioned its limited supply.


Meanwhile, he said in his April letter to shareholders that decentralized finance (defi) and blockchain are real. In addition, JPMorgan is now offering a number of crypto investment products.


What do you think about Jamie Dimon’s comments? Let us know in the comments section below.



Origina post from
https://motleybloggers.com/jpmorgan-ceo-jamie-dimon-skeptical-of-crypto-but-says-not-all-of-it-is-bad/

Comments

Post a Comment

Popular posts from this blog

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians

http://motleybloggers.com/wp-content/uploads/2022/12/research-shows-centralized-exchanges-saw-the-most-visits-this-year-from-americans-koreans-russians.jpg Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX Users, Turkey and Japan Are Also in the Top in Terms of Traffic The U.S., South Korea and Russia together account for 22% of all visits to centralized exchanges (CEX) for cryptocurrencies, according to the 2022-2023 “Global Crypto Industry Overview and Trends” annual report produced by Huobi Research. The estimate is based on data from the top 100 CEXs on active users, trading depth, trading volume, and reliability. With a share exceeding 9%, the United States is the pronounced leader in terms...
Post a Comment
Read more

Kevin O’Leary Tells US Lawmakers FTX Failed Because Binance Intentionally Killed It

http://motleybloggers.com/wp-content/uploads/2022/12/kevin-oleary-tells-us-lawmakers-ftx-failed-because-binance-intentionally-killed-it.jpg Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has told U.S. Congress that he believes the collapsed crypto exchange FTX failed because rival Binance intentionally put it out of business. He said former FTX CEO Sam Bankman-Fried (SBF) told him that Binance, which owned a 20% equity stake in FTX, refused to comply with regulators’ requests whenever FTX applied for a license in different jurisdictions. Kevin O’Leary Shares Why He Thinks FTX Failed With U.S. Senators Shark Tank star Kevin O’Leary shared why he thinks crypto exchange FTX collapsed in a congressional hearing, titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers,” before the Senate Committee on Banking, Housing, and Urban Affairs on Wednesday. Senator Pat Toomey (R-PA) asked O’Leary, “Why do you believe FTX failed?...
Post a Comment
Read more

Cardano MACRO REVERSAL Draws Near | XRP Prediction (Watch CLOSELY!)

http://img.youtube.com/vi/TWi-b9uRBdo/0.jpg https://www.youtube.com/watch?v=TWi-b9uRBdo Rumors swirl surrounding thr Ripple SEC case and xrp predictions also come into play. Cardano has been in a massive downtrend on the ADA charts, and momentum as it applies to physics might be the best picture we have into what is in store for ADA price. JOIN Crypto Capital Venture EXCLUSIVE Content ⚡⚡https://cryptocapitalventure.substack.com⚡⚡ 🟩 Bitcoin 4 Year Cycle Prediction - This May Change Your Mind On BTC https://youtu.be/IsKI359lAbQ Get Great Deal On TradingView subscription (the charts I use) USE MY LINK! - https://www.tradingview.com/?aff_id=114269 Follow me on my new Instagram ➡️ https://instagram.com/theofficialccv ⚡ Catch Me On Twitter ⚡ http://twitter.com/cryptorecruitr ⬇How To Stake Your Cardano In Minutes With Crypto Capital Venture!⬇ Stake Your ADA With Ticker: CCV1 ➡ https://youtu.be/cikJiJgRZFQ Crypto Cap...
Post a Comment
Read more