Jamie Dimon backs off his anti-bitcoin bluster

Friday, 13 October 2017, 07:20:30 AM. JPMorgan Chase CEO Jamie Dimon shrunk from his anti-bitcoin bluster on Thursday — just weeks after he called it a “fraud” and threatened to fire any of his employees that trade the asset. “I wouldn…
JPMorgan Chase CEO Jamie Dimon shrunk from his anti-bitcoin bluster on Thursday — just weeks after he called it a “fraud” and threatened to fire any of his employees that trade the asset. “I wouldn’t put this high in the category of ‘important things in the world,’” Dimon quipped, when asked during a call with journalists if the bank would never trade bitcoin. “But I’m not going to talk about bitcoin anymore.” Dimon’s lieutenant Maryanne Lake, the bank’s CFO, further muddied the waters about how JPM would proceed with bitcoin — and seemed to contradict her boss’ recent statements. “We are very open-minded to the potential use-cases and future for digital currencies that are properly controlled and regulated,” she said during the call. “We’re not going to not be part of that conversation. We’ll have to see. It’s quite nascent.” In a confusing aside directly after that, Dimon said that the bank moves trillions of dollars a day “effectively digitally — it’s not cash.” Later on Thursday, JPMorgan spokesman Joe Evangelisti sought to clear up the mess. “Marianne did not contradict Jamie,” Evangelisti told The Post. “She said we believe in the underlying Blockchain technology. She also said we support crypto-currencies that are regulated, which Jamie believes as well. His point on moving trillions of dollars digitally everyday was to show that we’re fine with digitizing a currency. It just has to be regulated.” Nevertheless, Dimon’s tone marked a sharp reversal from Sept. 12, when...Read more
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