The CEO of investment bank JP Morgan renewed his criticism of Bitcoin, saying that with the demise of FTX, government authorities need to develop regulations for crypto assets as soon as possible.
Jamie Dimon never missed an opportunity to repeat his negative attitude toward Bitcoin. In an interview, he called cryptocurrencies a decentralized ponzi scheme that is spiraling out of control, and it won’t be long before people are writing hundreds of books about stolen crypto assets, according to a text from JP Morgan’s chief executive officer.
Cryptocurrencies have driven people to hysteria. Almost everyone is affected. People of retirement age, people with low incomes … and that’s a shame. The responsibility to protect traders lies with the government,” Dimon rages.
He cited some data from the professional firm Chainalysis. According to it, weekly losses related to FTX stories amount to $9 billion. According to the banker, regulators were urged to provide a regulatory framework for cryptocurrencies shortly after the emergence of the new asset class to protect traders. Almost all legislators and regulators have already begun to work, and there comes a time when governments have not yet foreseen this, said JP Morgan’s CEO.
Jamie Dimon is popular for his skepticism of bitcoin because he believes it is an unnecessary asset. However, Dimon had previously said he would not force his own deals on JP Morgan clients interested in investing in cryptocurrency products, regardless of his own thoughts on one cryptocurrency. Unable to load all totals.