It is quite clear the trick Jamie Dimon use to do, shouting "Bitcoin Fraud", create fear among some investors and resulting in a drop of a price.
Many recent resources claim that it was done for purchasing Bitcoins. More than that, all JP Morgan's employees couldn't buy Bitcoins for themselves as the company made it forbidden for them.
And now? They are launching a cryptocurrency.
In my opinion, the sixth largest bank in the world, that value by more than 2.5 trillion dollars cannot act like this, as it is truly unethical.
Now don't get me wrong, there is NOTHING illegal in their actions, but isn't it a hole in the current regulatory system?
this bank will be history, these banks are supposed to serve american enterpreneuers, and listen to their ideas, not print money and live on the back of the economy in the cities they are in.
Say whatever you want about the banks, I personally doubt that their massive influence in the US (and around the world, as they are an international bank with ties in a great deal of countries) isn't going to fall apart this quickly. I've said this time and time again, but if the banks are really scared about Bitcoin removing them from existence -- they're just going to lobby the government to regulate bitcoin and make it hard to use.