Chase is actually using Blockchain technology to implement a stable coin such as tether and the Gemini Dollar. I dont believe they are even using etherum as most other stablecoins do.
Diamonds comments were in relation to Bitcoin specifically, and not crypto nor Blockchain technology.
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.
Im not sure why you think this.
Banks, like all other corporations, exist to provide the most long term value to their shareholders. They can listen to their customers, however if they do, they will do so for business reasons whose purpose is to increase the long term value of their business.