jpmorgan RSS
Irony Alert: JPMorgan Gets Sued for Bitcoin Fraud
If Jamie Dimon didn’t believe in karma before, he may be a believer now. JPMorgan has been hit with a class-action lawsuit on allegations of tacking on unannounced layers of fees plus interest after pulling the rug out from under the feet of cryptocurrency investors, according to a Reuters report. No wonder the decentralized revolution is upon us. The bank put the kibosh on credit card purchases for cryptocurrencies earlier this year when it also sparked controversy by treating crypto purchases as cash advances, the latter of which command higher fees. JPMorgan CEO Jamie Dimon infamously called bitcoin a fraud a while back, and...
Bitcoin is Saving Lives in Developing Countries
When a country’s economy is in turmoil and their currency is absolutely worthless due to hyperinflation, what would you do? People in third world are turning to bitcoin, but why? Beyond the speculative coverage on cryptocurrency, particularly on bitcoin, it’s now widely acknowledged and accepted as a valid form of payment, proving to have a very social and economic function. Many places in the third world are hit hard by a recessions from negligent banking systems or worthless currencies due to hyperinflations, turn to the virtual currency for an innovative solution. Down in South America, Venezuela’s sunk by...
JP.Morgan finally declares cryptocurrencies are a threat to their business
Cryptocurrencies are indeed a headache for banks as more of them are now opening up to the threat it poses to their business and survival. JP.Morgan finally declares cryptocurrencies are a threat to their business for the first time in their annual report on Tuesday. Sponsored JP.Morgan has featured in many cryptocurrency related news in the past weeks and months mostly for the negative reasons. After calling Bitcoin a fraud, it was clear Jamie Dimon didn’t see a fraud but saw a real threat when he made that statement. On Tuesday, JP Morgan released their annual report where the bank...
JPMorgan: Cryptocurrency is Unlikely to Disappear
JPMorgan’s mixed signals on bitcoin persist. The top US bank based on assets has released what’s been dubbed a “Bitcoin Bible” for investors, conceding that cryptocurrencies aren’t going away while simultaneously warning investors about a looming 50% or so drop in the BTC price. Meanwhile, JPMorgan’s CEO Jamie Dimon, whose distaste-turned-disinterest in bitcoin made headlines for months, hopefully ok’d the resources to create the bitcoin manual. Otherwise, someone’s job could be on the line. The bitcoin bible, which is comprised of 71-pages of crypto, covers topics ranging from the technology of bitcoin to its use cases, not to mention the hurdles that it faces. Meanwhile,...
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