JPMorgan CEO Expands Crypto Team by 200% Amid Criticism of BTC

2023-12-14 03:45:07

JPMorgan Chase CEO Jamie Dimon said he would “shut down” BTC (BTC) if he were in government, continuing his stance against cryptocurrency.

Jamie**•**Dimon’s anti-BTC stance

The CEO of JPMorgan Chase & Co. has long been a staunch opponent of cryptocurrency. In the past, he has compared BTC (BTC) to terms like “Ponzi schemes” and “hyped frauds.” In his latest statement, Dimon continues to take an aggressive stance against BTC, even asking the government to shut down the cryptocurrency industry. However, inside JPMorgan, things are much more than they seem, at least when it comes to blockchain technology, if not for investing in crypto assets.

Interestingly, the CEO’s comments come as financial giants such as Blackrock and Fidelity are vying for the SEC’s approval of the first spot BTC ETF.

JPMorgan Chase & Co.'s Cryptocurrency Division Increases Exponentially in Number of Employees

According to reports, JPMorgan’s blockchain arm, Onyx, now has about 300 employees, up from just 100 three years ago. According to the report, Onyx processes about $1 billion worth of transactions every day through the blockchain.

Fidelity, a financial services company, has been vocal about the potential benefits of integrating cryptocurrencies and blockchain into its products. Earlier, the media reported on the comments of a Fidelity executive on the upside potential of holding part of the BTC. In less than two months, BTC prices

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