Despite his best efforts, Jamie Dimon has never been one to mince words on the subject of cryptocurrency. So it shouldn't be all that surprising that when confronted about his thoughts on Libra, the JPMorgan CEO threw some serious shade at Mark Zuckerberg's pet blockchain. JPMorgan Chief on Libra: Get Back to Me in Three Years Speaking on Tuesday, Dimon played down the threat from Libra, which...
As massive banks like JPMorgan and Wells Fargo prepare to release their Q2 earnings report next week, a growing threat to traditional finance, cryptocurrencies, are becoming too disruptive to ignore. While many of these banks have resisted the coming changes, the smart ones are starting to change their tune. Just this week, the German Central Bank released a statement acknowledging the need to...
JP Morgan boss Jamie Dimon once slammed bitcoin as fraud, saying it’s only useful “if you were a drug dealer [or] a murderer.” So imagine his surprise when a ship owned by his bank was seized this week when authorities found $1.3 billion of cocaine inside. Big banks are increasingly linked to money laundering and drug trafficking. Meanwhile, less than one percent of bitcoin activity is connected...
In an interview with Yahoo Finance Thursday, JPMorgan Chase CEO Jamie Dimon was asked about Facebook's "cryptocurrency" Libra coin. The Wall Street royal brushed it off along with other cryptocurrencies. He pointed out that competition is inevitable in business. Dimon assured anyone listening that JPMorgan Chase is going nowhere and then rattled off a list of his company's new initiatives and...
Despite CEO Jamie Dimon's history of anti-bitcoin rhetoric, JPMorgan plans to pilot-test its own JPM Coin cryptocurrency later this year. JPMorgan claims more of its clients in the United States, Europe, and Japan have been clamoring for its prototype cryptocurrency to accelerate securities trading such as bonds. JPMorgan Tests 'Crypto' Amid Bitcoin Bull Market Not surprisingly, this announcement...
By CCN: JPMorgan Chase just scrapped its uninspired mobile banking app targeted at millennials. It only lasted one year before Jamie Dimon and co. had to admit defeat. JPMorgan Scraps Stupid Emoji Banking App After 12 Months The Finn app was launched last June to woo emoji-loving young people with zero-fee mobile banking. But the lame attempt to cross Robinhood with Snapchat has failed...
By CCN: Just as the world’s financial institutions begin to take an interest in Bitcoin, they prove themselves to be the very reason for its creation. After several conservative activists were effectively ‘unpersoned’ by JP Morgan Chase earlier this year, CEO Jamie Dimon still won’t deny there could be more to come. That was the impression left on vice president of the National Center for Public...
By CCN: Bitcoin has converted yet another critic. World-famous investor and emerging markets guru Mark Mobius once called bitcoin a fraud. But in an interview yesterday with Bloomberg he appeared to change his mind, saying it was “alive and well.” “There’s definitely a desire among people around the world to be able to transfer money easily and confidentially. That is really the backing to...