JPMorgan Chase CEO Calls Crypto Tokens Like Bitcoin 'Decentralized Ponzi Schemes'Jamie Dimon testified at a hearing alongside other big-bank CEOs — and made pointed comments about crypto.
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The CEO of one of the largest banks in the world did not hold back on his opinion of cryptocurrency.
“他们是分散的庞氏骗局,”杰米Dimon, CEO of JPMorgan Chase & Co, said at a U.S. House Financial Services Committee hearing on Wednesday,according to Bloomberg.
Dimon haslong been a cryptocurrency skeptic, as he noted in the hearing.
"I'm a major skeptic on crypto tokens, which you call currency, like Bitcoin," he said.
But his comments come amidanother crash for cryptocurrency this week, which has its own volatility and has been rocked by uncertainty in larger markets. The Federal Reserve yesterdayboosted interest rates for the 5th timein 2022 amid continued inflation, which could lead to a higher unemployment rate and a recession, per theNew York Times.
As Bloomberg reported, Dimon did say he thought stablecoins — which are pegged to some other financial instrument, like a currency, to try and limit its volatility — could be a positive thing if they were regulated.
Such regulation is in the works,Reuters reported.
The collapse of Celsius network, which filed for bankruptcy in July, put a spotlight on the troubles crypto investors can face when a shiny startup goes belly up.
Retail investors in these situations aretypically not prioritized. However, Celsius was called an actual "Ponzi scheme" in one lawsuit.
Celsius promised users very high rates of return for leaving their cryptocurrency on its platform. Itpaused all withdrawalsin June.
Dimon testified alongside other major banking CEOs at the hearing Wednesday andreturnedto the Hill Thursday to testify in front of the Senate.
