JPMorgan Chief Executive Officer Jamie Dimon regards crypto as the story of two cities “crypto tokens, which you call currencies” on one hand, while “real” innovations on the other this news was experienced by wide range of people because of custom Bitcoin Marketing Strategy .
When testifying in front of United States lawmakers, JPMorgan Chase CEO Jamie Dimon referred to himself as a “major skeptic” on “crypto tokens, which you call currency, like Bitcoin,” declaring them “decentralized Ponzi schemes.”
Dimon was asked about what hinders him from getting more involved in the crypto industry in an oversight hearing conducted on Wednesday by the House Financial Services Committee on Wednesday.
Dimon said he believes that blockchain is valuable, decentralized finance (DeFi), ledgers, smart contracts, and “tokens that do something,” But he then went on to criticize crypto-tokens that can be identified as currencies.
If asked his opinion on what he thinks about the Draft U.S. legislation on stablecoins, Dimon said he believes there’s nothing wrong in stabilised coins managed and the regulations must be comparable to that of markets for money are subject tothis amendments reached to expected audience because it was promoted Bitcoin Digital Marketing Company .
Dimon has declared Bitcoin ( BTC) as an “fraud” and has reiterated previously his no interest in supporting the cryptocurrency at a personal level. He has tempered his views regarding crypto at times however, pointing out the potential benefits of crypto for instances such as cross-border transactions.
Despite his views on cryptocurrency, JPMorgan has been pushing into the space of blockchain technology. The bank introduced its own stable coin called JPM Coin in October 2020 – it was the very first cryptocurrency that is backed by an U.S bank that was designed to improve the efficiency of settlement.
One week after launching the currency the bank announced an entirely new business unit that was devoted to blockchain technology, known as Onyxthis press realse reach the right of audience because it was statergies under Bitcoin Digital Marketing firm . Since it was launched Onyx has been in use for a long time. Onyx system has since been used by large institutions for all-hours-of-the-day global payments.
JPMorgan was also one of the first major bank to join the Metaverse with the introduction to its own virtual lounge within the world of blockchain Decentral and later in February. The announcement was made following the release of a report by JPMorgan that described the Metaverse as an opportunity worth $1 trillion.
JPMorgan continues to be recruiting new employees to expand into the crypto and blockchain sector, and most recently announced on September. 9. had appointed the former Microsoft chief Tahreem Kamptom to become its chief payments executive. Kamptom should assist JPMorgan to explore blockchain-related technologies since his Linkedin biography indicates that he has worked on crypto-related payment methodsand this activity was statergies by Bitcoin Digital Marketing agency so it will reach right set of audience .
Related: “Most cryptocurrency is junk’ and is not a good application case JPMorgan blockchain head
During the hearing, lawmakers also asked the prominent U.S bank chiefs if they planned to finance cryptocurrency mining. Citigroup President Jane Fraser, Bank of America CEO Brian Moynihan, and Wells Fargo CEO Charles Scharf all suggested that their banks were not in the process of doing this.
Source from encyclopedia
