Major U.S. banks, including JPMorgan consider legal challenge against Federal Reserve—here’s why
Several of America’s largest banks, including JPMorgan Chase, Citibank, and Goldman Sachs, are considering legal action against the U.S. Federal Reserve. Spearheaded by Eugene Scalia, a prominent conservative trial lawyer. The case against the Fed’s new cash reserve requirements Under the representation of the Bank Policy Institute, the banks are challenging the Federal Reserve’s proposed […]
Bitcoin stabilizes as JP Morgan reports the end of GBTC profit-taking
A recent research report by JP Morgan has highlighted a notable decrease in selling pressure on Bitcoin, the world’s largest cryptocurrency. According to the bank, this change is primarily due to the reduction of profit-taking activities in the Grayscale Bitcoin Trust (GBTC). Over the past few weeks, Bitcoin experienced a sharp decline, dropping over 20% […]
JP Morgan Chase faces new account closure allegations
JP Morgan Chase, one of the leading financial institutions, is facing allegations over its account management practices. A report has emerged from a user on the r/Chase Reddit forum, claiming that their bank account was abruptly terminated. This case adds to a series of similar complaints against the bank, sparking discussions around the policies and […]
Pro XRP Lawyer John Deaton critiques JPMorgan’s unexpected crypto move
Under CEO Jamie Dimon’s leadership, JPMorgan Chase has recently been named as an Authorized Participant (AP) in BlackRock’s Bitcoin Spot Exchange-Traded Fund (ETF). This development has sparked a flurry of discussions and reactions, particularly from figures in the cryptocurrency community, including pro-XRP lawyer John Deaton. JPMorgan’s involvement in BlackRock’s ETF: A shift in stance JPMorgan’s […]
SEC nears decisive move on multiple Bitcoin ETFs, JPMorgan says
The Securities and Exchange Commission (SEC) is showing signs of expediting approvals for multiple spot Bitcoin exchange-traded funds (ETFs). This anticipation builds upon the SEC’s lack of action in appealing a court case it lost to Grayscale Investments. According to analysts at JPMorgan—led by Nikolaos Panigirtzoglou—on Wednesday, the regulatory body will most likely finalize these […]
JPMorgan CEO Envisions AI’s Transformative Role in Shaping Tomorrow
In a world where the specter of a jobless, possession-less future has been ominously forecasted, JPMorgan Chase & Co Chief, Jamie Dimon, offers a contrasting vision. Dimon envisions a future powered by artificial intelligence (AI), describing it as a “living breathing thing” that will not only transform the job market but also extend human life. […]
JPMorgan analysts predict SEC will approve multiple spot bitcoin ETFs following Grayscale’s legal victory
In a pivotal development, analysts from JPMorgan, led by Nikolaos Panigirtzoglou, forecasted that the U.S. Securities and Exchange Commission (SEC) is poised to approve several spot Bitcoin Exchange-Traded Funds (ETFs). This prediction emerged following Grayscale’s landmark legal win against the SEC, a decision that could reshape the cryptocurrency landscape. Earlier in the week, a federal […]
Bitcoin halving 2024: JPMorgan predicts struggles for high-cost miners
As Bitcoin prepares to undergo its next halving event in April 2024, a cycle that occurs roughly every four years and slashes the rewards for mining Bitcoin by 50%, concerns surrounding the profitability for miners are becoming increasingly pronounced. Industry analysts argue that the outcome of the halving event will be a litmus test for […]
Spot Bitcoin ETF may not stir crypto markets, says JP Morgan
Despite the buzz around a possible U.S. Securities and Exchange Commission (SEC) approval of a spot bitcoin exchange-traded fund (ETF), banking giant JPMorgan has doused the high spirits, expressing doubt in a recent research report on the game-changing potential of such a move. Limited influence despite renewed optimism While anticipation grows with asset managers like […]
JP Morgan foresees Ether’s ascendancy following the release of the pivotal Hinman documents
June 12 marked a pivotal moment in the ongoing battle between Ripple and the U.S. Securities and Exchange Commission (SEC) with the release of the much-anticipated Hinman documents. It is essential to note that the SEC had initially hoped to keep these documents sealed, but the presiding judge denied this motion, leading to their public […]
JP Morgan CEO advocates for abolishing debt limit
Jamie Dimon, the CEO of JPMorgan, one of the world’s largest banks, has expressed his support for abolishing the debt limit in a recent interview with Punchbowl News, a U.S. politics-focused outlet. He emphasized that the drama arising from congressional discussions on raising the debt limit can negatively affect the U.S. and the global economy. […]
FDIC demands final bids from JPMorgan and PNC for First Republic
The Federal Deposit Insurance Corporation (FDIC) has set a deadline for JPMorgan Chase & Co and PNC Financial Services Group to submit their final bids for the acquisition of First Republic Bank. This comes as First Republic’s financial situation continues to decline, raising concerns that it may soon be placed under receivership. As major banks […]
7 European institutions harnessing the power of blockchain technology
In recent years, European institutions have increasingly embraced the potential of blockchain technology, with many banks and financial organizations developing and adopting blockchain-based solutions. Here is an overview of some of the initiatives undertaken by European financial institutions that demonstrate the maturing blockchain space. Societe Generale Societe Generale, France’s third-largest bank, launched the Ethereum contract […]
Bank of America warns the US economy is at risk of shrinking in Q2
Bank of America has added to the growing concerns over the state of the US economy, warning that it is at risk of shrinking in the second quarter. The bank’s announcement follows JP Morgan CEO Jamie Dimon’s recent comments about his own concerns regarding the US economic outlook. However, Bank of America had previously identified […]
JP Morgan: Crypto market participants becoming more reliant on stablecoins following Silvergate Bank closure
JP Morgan (JPM) released a research report Wednesday which suggested that it will take time for new banking networks to fill the void left by Silvergate Bank, Silicon Valley Bank, and Signature Bank in the U.S.. In the meantime, crypto market participants and investors appear to have turned more towards stablecoins to move money around. […]
Biggest banks in the US unite to save struggling financial institution
Five of the US largest banks have united to provide financial aid to a struggling institution. First Republic Bank is set to receive up to $30 billion in deposits from JP Morgan, Bank of America, Wells Fargo, Citi, and others with the support of the U.S Government. However, this deal will help stabilize First Republic […]
JP Morgan takes the leap into crypto with new innovation lab in Athens
JP Morgan & Chase, the renowned investment banking giant, recently opened a crypto innovation lab in Athens. As confirmed by Tryone Lobban, Head of JP Morgan’s DeFi platform Onyx, the lab will focus on research and development (R&D) of blockchain technology, AI, and cryptography applications to support payment businesses worldwide. The asset and wealth management […]
Former JP Morgan banker heads SEBA’s Asia pacific division
SEBA, a crypto-focused Swiss bank, has appointed Amy Yu in charge of their Asia Pacific division. Before joining SEBA, Yu spent six years at JPMorgan’s prime brokerage services department and had prior roles with UBS and Nomura. In 2018, Yu delved into cryptocurrency and connected with the BitMEX exchange to create services for institutional customers. […]
JP Morgan forecasts AI’s future role in crypto trading
According to a survey conducted by the worldwide financial services conglomerate JP Morgan, more than half of institutional traders have concluded that artificial intelligence and machine learning will be the predominant technologies guiding trading decisions over the next three years. Also, this result was cited four times more often than blockchain or distributed ledger technologies. […]
JP Morgan says Ethereum’s Shangai Update may bring opportunities to Coinbase
Crypto fans who have staked Ethereum are eagerly looking forward to the upcoming updates in the blockchain network. According to JP Morgan analysts, Coinbase may also significantly benefit from its upcoming network update. The Shanghai Fork upgrade is scheduled for March and will give people access to funds previously allocated towards its Beacon Chain, allowing […]
