New Binance CEO Takes On Jamie Dimon After JPMorgan Chief Says Government Should Shutter Crypto Industry

New Binance CEO Richard Teng challenged Jamie Dimon to consider ”facts” after the JPMorgan CEO said he would close down crypto if he was in government.

“Perspective is crucial when addressing illicit financial activities,” Teng said in a tweet on X, referring to Analysis by Dr Andrzei Gwizdalki. “Let’s look at the facts. Traditional fiat, like the USD, is implicated in an estimated $3.2 trillion in illegal activities annually – over 100 times the $20bn linked to cryptocurrencies.”

Jamie Dimon Says Crypto Only Good For ”Criminal Activities”

Teng came to crypto’s defense after yet another anti-crypto tirade from Dimon before the US Senate Banking, Housing, and Urban Affairs committee on Dec. 6.

Dimon said that the only use cases for crypto is money laundering, criminal activities, drug trafficking, and tax avoidance.

“If I was the government, I’d close it down,” he said. “I’ve always been opposed to crypto, Bitcoin, etcetera.”

Despite being opposed to cryptocurrencies, JPMorgan has adopted blockchain technology for projects like JPM Coin.

Some crypto users on X also pointed out that JPMorgan has been fined for violating banking rules.

Also Read

  • Terraform Labs Co-Founder Do Kwon Appeals Extradition From Montenegro To US Or South Korea
  • SEC Delays Grayscale’s Ethereum ETF Decision To January
  • 5 Best Crypto to Stake for Maximum Returns 2023 – Huge Passive Rewards

Comments

Post a Comment

Popular posts from this blog

Bitcoin is 1 week away from 'confirming' new bull market — analyst

Image
BTC price action is copying historical patterns to deliver a classic Bitcoin bull market comeback, says Rekt Capital. Bitcoin (BTC) has a matter of days to go before beginning a new macro uptrend, the latest analysis says. In his latest Twitter activity, popular trader and analyst Rekt Capital flagged a key monthly close in the making for BTC/USD. BTC price action closely mimics past cycles Despite facing problems flipping $28,000 to support, BTC price action is firmly on the way to abandoning its bear market . That is according to Rekt Capital, who on March 26 presented an optimistic picture of how BTC/USD would likely finish the month. The pair's recent gains have put it above a macro downtrend in place since its 2021 all-time highs, but the March close would be the first potential candle to complete above that trend line on monthly timeframes. "Next Saturday, the BTC Monthly Candle will have closed above the Macro Downtrend to confirm a new Bull Market," Rekt Capita...
Read more

Can Ethereum crack $2K? ETH price inches closer despite new unlocked supply

Image
Ethereum staking withdrawals are picking momentum. But they have not been able to cause a major selloff as many had anticipated post the Shanghai upgrade. The price of Ethereum's Ether (ETH) token came just a few dollars from hitting $2,000 a day after the launch of the network's long-anticipated Shanghai upgrade. Ethereum ducks sell-the-news fears On April 13, Ether's price gained roughly 4% to reach an intraday high of $1,996 on Coinbase, ignoring the potential selloff pressure the Shanghai upgrade could potentially bring to the market. ETH/USD daily price chart. Source: TradingView To recap: the Shanghai hard fork, also known as "Shapella," enables users to withdraw their ETH from Ethereum's Proof-of-Stake smart contract. As of 09:00 UTC, April 13, over 98,000 ETH worth around $194.8 million has left Ethereum's voting balance reserves since the Shanghai launch a day ago, according to Nansen. In other words, nearly $200 million in potential selling pres...
Read more

MoonBag Staking Rewards Leave Ondo & EOS in the Dust: Experience Unmatched Returns

Image
Can standard 9-5 jobs double your savings? You may have the leisure of stable pay, but jobs cannot double your savings in mere days. Only the crypto market offers the magic to achieve that. It is high time to invest in crypto and maximize all your savings. However, investing in the right coin is the key to multiplying your savings. Because of their ongoing issues of investor distrust and major price fluctuations, Ondo and EOS might not be the best options right now. Nevertheless, there is a new meme coin worth your investment called MoonBag. Investors are rushing to the new MoonBag coin because of the impressive 88% MoonBag staking rewards and a host of other promising features that make it the best on the market. The meme coin has already raised over $3.1 million.  Let’s look at how it compares with Ondo and EOS to be the best option. Ondo Experiences Bear Season as its Price shows Weakness Ondo (ONDO) uses the Flux Finance protocol to offer fixed-yield loans ba...
Read more