Jamie Dimon, the chief government officer of JPMorgan Chase, was not too long ago criticized when he mentioned he would \u201cclose down\u201d Bitcoin (BTC) if he had been working the federal government, whereas testifying throughout a latest Wall Street oversight listening to by the US Senate Banking, Housing, and Urban Affairs committee on Capitol Hill.<\/p>\n
Also Read: US SEC Delays Decision on Invesco and Galaxy Ethereum ETF<\/strong><\/a><\/p>\n <\/p>\n The JP Morgan CEO has lengthy been opposing the highest cryptocurrency. In the previous, he compared<\/a> Bitcoin (BTC) with phrases like \u2018Ponzi scheme\u2019 and \u2018hyped-up fraud\u2019. Dimon continued his aggressive stance in opposition to BTC in his newest assertion, going so far as demanding a authorities shutdown of the crypto trade. However, there may be extra to it than meets the attention inside JP Morgan, a minimum of round blockchain know-how if not for investing in crypto belongings.<\/p>\n Interestingly, the CEO\u2019s feedback got here at a time when monetary giants of the likes of Blackrock and Fidelity are vying for the approval of the primary ever spot Bitcoin ETF from the U.S. Securities and Exchange Commission (SEC).<\/p>\n <\/p>\n According to experiences, Onyx, the blockchain unit of JP Morgan, presently has round 300 staff in comparison with a headcount of simply 100 three years in the past. The experiences said<\/a> Onyx is dealing with transactions price round $1 billion per day by way of blockchain.<\/p>\n <\/p>\n Financial providers firm Fidelity, on the opposite aspect, has been vocal concerning the potential advantages of integrating crypto and blockchain in its merchandise. Earlier, CoinGape reported<\/a> a Fidelity senior government\u2019s feedback on the upside potential of holding some Bitcoin. In the house of below two months, the Bitcoin price (BTC)<\/a> grew over 60%, owing to varied components together with the anticipation of the spot Bitcoin ETF approval anytime in 2024.<\/p>\nJamie Dimon\u2019s Anti-Bitcoin Stance<\/h2>\n
JP Morgan Crypto Unit\u2019s Staff Multiplies<\/h2>\n
![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/69560a4be8debdb70e914532faf8168a?s=200&d=mm&r=g\"\/)
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/69560a4be8debdb70e914532faf8168a?s=200&d=mm&r=g\")