It looks like JPMorgan tripled its internal crypto team while the CEO of the company bashed Bitcoin. Check out the latest reports about this below.
JPMorgan triples internal crypto team
Check out the following relevant tweet below:
BREAKING 🚨 NEWS : JP Morgan has tripled its internal crypto team, all while its CEO bashes #Bitcoin , stating he would "ban crypto and bitcoin if he ran the government."
This is the exact move JP Morgan used with the Gold Spot ETF to short the market.
— Jason A. Williams (@GoingParabolic) December 13, 2023
Someone said this: “Doesn’t seem to be working this time (price wise), but maybe Jamie is just trying to slow it down to buy more time to better position Chase for the Bitcoin future.”
Another follower posted this message: “As always, watch what they do, not what they say. Same JP Morgan that holds a huge position in the most important infrastructure/UX companies in the ethereum & ethereum-adjacent ecosystem: infura and consensys.”
JPMorgan in the news
Mark Yusko, who is the founder of Morgan Creek Capital, has expressed that traditional finance figures, including JPMorgan CEO Jamie Dimon, are worried about the increasing popularity of cryptocurrencies like Bitcoin.
In a recent congressional testimony, Dimon claimed that digital assets were mainly used by criminals and indicated that he would ban them if he were the government.
However, Yusko suggests in a new interview on CNBC that Dimon’s reluctance to adopt crypto is partly due to his fear that the technology could make much of his industry outdated, as we reported in a previous article.
“When your livelihood depends on not understanding something, you won’t. Jamie understands it, he’s a very smart person, but he and other people in the financial services industry are afraid, quite honestly. This technology, blockchain technology, will do to financial services what the internet did to media and commerce.”
