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

Cardano on-chain activity signals bullish ADA price action

Image
Although the majority of assets in the cryptocurrency market have started to consolidate their gains, Cardano (ADA) has continued to trade in the green, and its on-chain activity suggests that more increases could await the eighth-largest cryptocurrency by market capitalization. Specifically, Cardano has witnessed strong ADA address activity that has risen by 23% in the last three weeks, while whale transactions increased 32% during the same period, according to the data shared by the crypto and blockchain analytics platform Santiment on November 2. Cardano active addresses and whale transactions. Source: Santiment At the same time, the Santiment team noted that this strong uptick in the on -chain activity of Cardano had hinted at the bullish action seen on November 2, when ADA’s market cap soared 9% in the previous 24 hours, and as much as 36% in the two weeks leading up to Thursday. Cardano price analysis Meanwhile, this crypto asset was at press time changing hands at the...
Read more

MoonBag Makes Exciting Debut Outshining Arweave and Immutable X as the Best Meme Coin Presale with High Staking Rewards

Image
In the exciting world of cryptocurrencies, where each coin has its distinct characteristics, selecting one that will help you make a secure investment is critical. While the crypto world has helped many people make fortunes, it has also caused many people to lose a lot of money because of its volatility.  One meme coin currently winning investors' hearts and is considered a safe investment opportunity because of its guaranteed ROI at zero tax, detailed road map, and foolproof liquidity strategy is the MoonBag(MBAG) coin. Holding tough competition to its adversaries like Arweave and Immutable X, MoonBag crypto is the best meme coin presale. Staking in MoonBag presale has become the talk of the town, with crypto enthusiasts praising MoonBag for having raised more than $3.2 million in presale in a little over a month. Let's find out how MoonBag can shine as the best meme coin presale in the presence of cryptos like Arweave and Immutable X.  Arweave’s Latest Price ...
Read more

3 Cryptocurrencies to Buy and Bid Your Boss Goodbye in 2024

Image
As we step into 2024, several cryptocurrencies stand out as potential game-changers, presenting investors with the prospect of saying goodbye to their bosses and embracing a new era of financial freedom. Here are three cryptocurrencies that could pave the way for bidding your boss goodbye in 2024: Retik Finance (RETIK): Transforming DeFi with Innovation Retik Finance emerges as a leading player in the decentralized finance (DeFi) space, promising groundbreaking features and a comprehensive ecosystem. The project introduces Futuristic DeFi Debit Cards, a Smart Crypto Payment Gateway, and AI-Powered Peer-to-Peer (P2P) Lending, offering a suite of innovative solutions for global transactions. With an impressive fundraising journey, raising $1 million in just nine days and nearing $6 million in less than a month, Retik Finance has captured the attention of investors seeking cutting-edge opportunities in the DeFi landscape. Retik has raised over $13.7 million in total in its 7th presa...
Read more