jamie dimon

JPMorgan CEO Jamie Dimon Tells Congress Crypto

JPMorgan Chase CEO Jamie Dimon mentioned in a U.S. congressional listening to that crypto tokens, like bitcoin, are “decentralized Ponzi schemes.” He informed lawmakers: “I’m a main skeptic on crypto tokens which you name foreign money.”

JPMorgan CEO Jamie Dimon Calls Crypto Ponzi Schemes

Jamie Dimon, the CEO of JPMorgan Chase & Co., shared his view about cryptocurrencies, naming bitcoin particularly, in a congressional listening to Wednesday.

Responding to a query by Consultant Josh Gottheimer (D-NJ) in regards to the fast growth of digital property, Dimon emphasised the significance of separating cryptocurrencies from different improvements that he mentioned are “actual,” like blockchain, decentralized finance (defi), and “tokens that do one thing.”

The manager opined:

I’m a serious skeptic on crypto tokens which you name foreign money, like bitcoin. They’re decentralized Ponzi schemes.

“And the notion that it’s good for anyone is unbelievable,” he continued. The JPMorgan boss proceeded to reference that billions of {dollars} are misplaced every year by way of crypto, linking cryptocurrencies to crimes resembling ransomware funds, cash laundering, sex-trafficking, and theft. He emphasised that crypto is “harmful.”

The JPMorgan…

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