Crypto News – Jamie Dimon, the CEO of JPMorgan Chase, has long been against cryptocurrencies.
JPMorgan CEO Dimon Dilemma: His Statements and the Company’s Actions Contradict Each Other
I’ve always been deeply opposed to crypto, bitcoin, etc. The only true use case for it is criminals. If I was the government, I’d close it down.
Dimon
However, this reprimand, along with the ones that came before it, is now very much a “do as I say, not as I do” scenario. That’s a result of JPMorgan’s increased involvement in cryptocurrency. The bank would be crucial to BlackRock‘s proposed bitcoin (BTC) exchange-traded fund (ETF), it was disclosed on Friday.
JPMorgan’s Responsibility Will Increase
If the ETF is accepted, JPMorgan will be among its allowed participants. Its responsibilities include “ensuring that ETF prices are accurate and that trading is smooth in all market conditions,” as stated by BlackRock. JPMorgan’s role as BlackRock’s product manager is one of the most significant in the multi-trillion-dollar ETF business.
But the overall picture, including Dimon’s statement above, seems to be one of hypocrisy. This situation has also attracted the attention of social media users. Mike Dudas, co-founder of The Block, even shared a post making fun of this situation on his personal X account.
Leave a comment