Jamie Dimon, CEO of JPMorgan, has taken a more accepting view of digital assets, especially stablecoins and blockchain technology.
In an August 1 interview by CNBC, Dimon said he supports stablecoins and sees practical use in blockchain technology. While he has not fully embraced all aspects of crypto, his views have shifted from what they once were.
Dimon explained that the bank’s involvement with crypto is driven by what customers are asking for, not because of internal enthusiasm. He also pointed out that every new financial product comes with some level of risk.
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In 2024, Dimon called Bitcoin
$114,192.58
a “fraud” and said it made no sense to allow people to “invent a currency out of thin air”. At that time, he also said he would fire any JPMorgan employee caught trading crypto.
He also compared Bitcoin to a “pet rock” and raised concerns about its use in criminal activity in 2018. While he admitted blockchain had possible benefits, he dismissed Bitcoin itself.
Despite Dimon’s skepticism, JPMorgan has expanded its work in the crypto industry. On July 16, Dimon confirmed the bank was planning to test its own version of a stablecoin, known as a “deposit coin”.
On July 30, JPMorgan teamed up with Coinbase
$844.7M
to make crypto more accessible to its customers. How? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
