Bitcoin is a ‘hyped-up fraud’, says JP Morgan chief
1 year, 11 months ago

Bitcoin is a ‘hyped-up fraud’, says JP Morgan chief

The Telegraph  

The billionaire chairman of JP Morgan, Jamie Dimon, has called Bitcoin a “hyped-up fraud” and the financial equivalent of a “pet rock” as financial chiefs turn against digital currencies. Mr Dimon called cryptocurrencies a “waste of time” in comments at the World Economic Forum in Davos. It's a technology we think will be deployable.” Speaking to CNBC, Mr Dimon added he could envisage the US Federal Reserve raising interest rates above 5pc as central bankers grappled to get a hold of raging inflation. Mr Dimon's comments on Bitcoin come as financial institutions emerge red faced from the failure of FTX, the world's second largest cryptocurrency exchange, which collapsed amid allegations of fraud.

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History of this topic

Governments and banks once mocked Bitcoin. Now they want in on it
3 weeks ago

Governments and banks once mocked Bitcoin. Now they want in on it

Al Jazeera  

After topping $100,000, Bitcoin supporters see the cryptocurrency soaring even higher. Despite once labelling Bitcoin “a scam”, Trump has emerged as arguably the world’s most powerful advocate for the asset. “There’s now this growing feeling that the 21st century will be the century of Bitcoin.” Keiser spotted Bitcoin’s potential early on and advised people to buy it when its value …

Bitcoin spikes to all-time high following Trump SEC chair nomination
1 month ago

Bitcoin spikes to all-time high following Trump SEC chair nomination

Salon  

The price of a single Bitcoin surged to over $100,000 just hours after Donald Trump nominated a crypto advocate to chair the U.S. Securities and Exchange Commission. The oldest and most popular cryptocurrency crossed the six-figure threshold for the first time on Wednesday following the president-elect's announcement that he'd tagged Paul Atkins to lead the SEC in his second term. …

Bitcoin price briefly tops $69,000 for new all-time high
10 months ago

Bitcoin price briefly tops $69,000 for new all-time high

Hindustan Times  

Bitcoin surged to a record for the first time in more than two years, yet the original cryptocurrency didn’t stay at its new all-time high very long as many traders appear to have taken the opportunity to book some profit. The net inflow of almost $8 billion in less than two months is colliding with a looming reduction in Bitcoin’s …

Bitcoin price resurgence revives ‘digital gold’ comparisons
1 year, 9 months ago

Bitcoin price resurgence revives ‘digital gold’ comparisons

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Bitcoin’s recent price revival has once again bolstered the cryptocurrency’s reputation as a …

FTX founder Bankman-Fried facing market rigging probe: Report
2 years, 1 month ago

FTX founder Bankman-Fried facing market rigging probe: Report

Al Jazeera  

Investigation is focused on whether Sam Bankman-Fried manipulated the market for two cryptocurrencies, the New York Times says. FTX founder Sam Bankman-Fried is being investigated by authorities in the United States to determine if he manipulated the market for two cryptocurrencies, leading to their collapse and the implosion of his own cryptocurrency exchange, according to a New York Times report. …

Column: A cryptocurrency billionaire implodes, showing that the whole field is built on quicksand
2 years, 2 months ago

Column: A cryptocurrency billionaire implodes, showing that the whole field is built on quicksand

LA Times  

Sam Bankman-Fried of FTX, second from right, at a May 22 House committee hearing presenting cryptocurrency as a real thing you should definitely place your trust in. “The crypto folks say that crypto is somehow ‘different’ or ‘special’ because it’s technology, so it deserves to have its own special regulatory regime, which means a much lighter touch,” says Yevgeny Shrago, …

HSBC doesn’t want in on bitcoin mania
3 years, 7 months ago

HSBC doesn’t want in on bitcoin mania

CNN  

Hong Kong CNN Business — HSBC CEO Noel Quinn isn’t buying into the bitcoin craze. The chief executive told Reuters in an interview this week that his bank has no plans to launch a cryptocurrency trading desk, and “given the volatility, we are not into bitcoin as an asset class.” HSBC confirmed Quinn’s remarks to CNN Business but declined to …

What Bitcoin’s new record means for wall street
4 years, 1 month ago

What Bitcoin’s new record means for wall street

Live Mint  

Bitcoin’s true believers are taking a victory lap after the cryptocurrency’s fresh all-time high of almost $20,000. We’ve seen big banks seek to make money from Bitcoin without handling it directly, reflecting fairly limited client demand and a lack of regulatory clarity. Morgan Stanley began clearing cash-settled Bitcoin futures in 2018, while JPMorgan this year adopted crypto exchanges Coinbase Inc. …

Jamie Dimon hated bitcoin. Now JPMorgan is getting ahead of the crypto revolution
5 years, 10 months ago

Jamie Dimon hated bitcoin. Now JPMorgan is getting ahead of the crypto revolution

CNN  

New York CNN Business — JPMorgan Chase boss Jamie Dimon famously bashed bitcoin as a “fraud” that global governments would “crush.” Less than two years later, Dimon is pushing his company headfirst into the crypto space. “If JPMorgan doesn’t do it, someone else will.” Photo Illustration: Bloomberg / Getty Images / Shutterstock / CNN Current system is ‘slow and crappy’ …

Bitcoin is an insurance policy against ‘irresponsible’ government
5 years, 11 months ago

Bitcoin is an insurance policy against ‘irresponsible’ government

CNN  

Grand Cayman CNN Business — Bitcoin might be down 80% from its peak, but true believers in cryptocurrencies and blockchain technology still gush about its enormous potential. “There is a really good chance we have something better than gold,” Travis Kling, founder and chief investment officer of crypto hedge fund Ikigai Asset Management, said on Thursday at the Cayman Alternative …

Bitcoin used to draw a Davos crowd. Now it’s a sideshow
5 years, 11 months ago

Bitcoin used to draw a Davos crowd. Now it’s a sideshow

CNN  

Davos, Switzerland CNN Business — When the global business elite last gathered in Davos for their annual shindig, one bitcoin was worth $10,000. The “CRYPTO” and “BLOCKCHAIN” signs that littered the Ski resort’s promenade last year have all but disappeared, and bitcoin has virtually vanished from the official forum agenda. “We don’t want to replace the local African currencies …

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