JPMorgan Co-President Jerry Pinto: ‘Cryptocurrency Will Play Role in Future’

Written by:
Guest
Published on:
May/16/2018

Speaking to CNBC Wednesday, JPMorgan co-president Jerry Pinto confirmed the bank was “looking into” the Bitcoin space.

Pinto said when asked about the future of Bitcoin and JPMorgan's position on cryptocurrencies:

"We are looking into that space. I have no doubt that in one way or another, the technology will play a role. [Regarding bitcoin], you cannot have something where the business proposition is to be anonymous and to be the currency for unknown activities. That will have a very short life, because people will stop believing in it, or the regulators will kill it. I think the concept is valid, you have many central banks looking into. The tokenization of the economy, for me, is real. Cryptocurrencies are real but not in the current form.

"If we need to clear futures of bitcoin, can we do it? Yes. Have we done it? No."

The financial institution's current CEO, Jamie Dimon had backed off on his earlier notion that bitcoin was a "fraud".

"I regret making" that comment, he said in early January, speaking on Fox Business. "The blockchain is real," Dimon added in the interview.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Online Bookies Need To Use 3 Privacy Tools to Keep Their Business Safe

Pay per head agents should understand the importance of privacy tools. Understanding how online bookie agents can protect themselves and keep their players anonymous will continue to grow. Check out the 3 tools to have at your disposable right here.

Coinbase Acquires Relay-Trading Platform Paradex

On Wednesday, May 23 U.S.-based cryptocurrency exchange firm Coinbase announced the acquisition of a decentralized digital token relay-trading platform Paradex for an undisclosed sum. 

NFL Commish Roger Goodell Details Stance on Legalized Sports Betting

NFL Commish Roger Goodell Details Stance on Legalized Sports Betting

NFL commissioner Roger Goodell says Congress should enact uniform standards for any states that plan to legislate sports betting.

Crypto Market Valuation Drops More Than 55 Percent Over Past Five Months

Crypto Market Valuation Drops More Than 55 Percent Over Past Five Months

A number of big investors say they are not concerned that the cryptocurrency market has lost 55% of its value over the past five months.  It was inevitable, they suggest.

As Bitcoin World Wobbles, Mining Rig Company Plans $2 billion IPO

As Bitcoin World Wobbles, Mining Rig Company Plans $2 billion IPO

Bitcoins are worth less than half of what they were in December. Mining them is 60 percent less profitable than it was in 2017. Even retailers of hobbyist mining rigs say they are seeing fewer customers.

Syndicate