JPMorgan Chase & Co.’s CEO, Jamie Dimon, shares his opinions on cryptocurrency. In a recent interview on CNBC’s “Squawk Box”,
an interview was held on December 6, 2022, with Diman on CNBC Channel. On the set of the show Squawk Box Dimon, the most famous critic of Cryptocurrency like Bitcoin, was invited. The co-anchor Andrew Ross Sorkin asked him about the collapse of FTX. He asks him if he agrees with Dr. Janet Yellen, U.S. Treasury Secretary’s assessment of the FTX collapse proposed.
Reply Of Jamie Dimon:
According to him, crypto is a sideshow, and people spend too much on crypto. He says crypto tokens are pet rocks. He is amazed by how much people spend on crypto. He mentions that there are so many other things like blockchain, smart contracts, and Web 3.0.
In September, Dimon shared his opinion on Blockchain Technology and cryptocurrency. Later question related to it was asked by a US representative for New Jersey, Josh Gottheimer.
He asked about Dimon’s views on the new legislation developed by the government and its collateral effect on the upcoming changes in the crypto and other digital assets market. He also marked that is there any chance that the value of the dollar will get reduced, and Did China improve its digital currency over the US?
Dimon replied do you want to separate blockchain, Defi, and real ledger? He remarked, “That’s one thing. I’m not a skeptic… I’m a major skeptic of crypto tokens which you call currency like Bitcoin. They are decentralized Ponzi schemes, and the notion [that] that’s good for anybody is unbelievable.”
On 4 April 2022, Dimon, in his company’s annual Letter to Shareholders, mentioned blockchain technology and decentralized finance (DeFi). In the report, he mentioned investments and acquisitions.
In the report, he talked about the payment process for eight of the top 10 global Big Tech Companies. He says,” we continue to bring the market and commercialize innovative products, such as embedded banking.”
Simon supports Decentralised finance and blockchain as real, new technologies that can help deploy in both public and private fashion, whether permission or not.
In the interview, he also declares, “We believe there are many uses where a blockchain can replace or improve contracts, data ownership, and other enhancements; for some purposes, however, it is currently too expensive or too slow to be deployed.”
Wrap Up: Dimon supports the blockchain network and DeFi as the new and real technology. He criticized cryptocurrency.
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