Translation: Owner of a walled garden with gatekeepers not a fan of open and permissionless systems that pose a threat to their business model.
So not really news. Just a mouthpiece expelling hot air.
Topic: [2022-09-22] JPMorgan CEO Jamie Dimon slammed crypto and called BTC Ponzi Scheme - page 2. (Read 436 times)
September 22, 2022, 06:48:22 AM
September 22, 2022, 06:18:30 AM
https://markets.businessinsider.com/news/currencies/jpmorgan-jamie-dimon-bitcoin-crypto-blockchain-regulation-crime-ponzi-scheme-2022-9
"I'm a major skeptic of crypto tokens, which you call currency, like bitcoin," the JPMorgan CEO told the House Financial Services Committee on Wednesday.
"They are decentralized Ponzi schemes, and the notion that it's good for anybody is unbelievable," Dimon added during the hearing, which centered on holding America's biggest banks accountable.
"We are a big user of blockchain," he said, highlighting the existence of a JPMorgan coin that can be exchanged for dollars at a fixed rate. "It can be moved just the way cryptocurrencies can be moved — stable value, very low cost."
"I'm a major skeptic of crypto tokens, which you call currency, like bitcoin," the JPMorgan CEO told the House Financial Services Committee on Wednesday.
"They are decentralized Ponzi schemes, and the notion that it's good for anybody is unbelievable," Dimon added during the hearing, which centered on holding America's biggest banks accountable.
"We are a big user of blockchain," he said, highlighting the existence of a JPMorgan coin that can be exchanged for dollars at a fixed rate. "It can be moved just the way cryptocurrencies can be moved — stable value, very low cost."
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