Government Shutdown Could Slash US Economic Growth to Zero: JPMorgan CEO Jamie Dimon

Jamie Dimon, the CEO of JPMorgan Chase, warns that the partial US government shutdown could cut the United States’ economic growth to zero if it continues through March 31. “Someone estimated that if it goes on for the whole quarter, it can reduce growth to zero,” Dimon told reporters. He did not cite the source

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Bitcoin Bear Market Is Scaring Off Institutional Investors, Claims JPMorgan

Institutional investors are being scared off by the protracted crypto bear market. That’s the assessment of a team of JPMorgan Chase & Co. analysts, including global market strategist Nikolaos Panigirtzoglou. “Participation by financial institutions in Bitcoin trading appears to be fading,” the JPMorgan team wrote in a December 14 research note. “Key flow metrics have

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Jamie Dimon: I ‘Don’t Give a Sh*t’ about Bitcoin

Much like an old house that comes to be inhabited by the spirit, who, though no longer living, nevertheless has unfinished business on earth, JPMorgan CEO Jamie Dimon is haunted. However, unlike the protagonists in the films that will inevitably trend on Netflix this evening, Dimon’s spectre is primarily technological, not paranormal, for the investment

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JPMorgan: US Recession by 2020 Has 60% Chance, is Crypto an Alternative?

$362 billion banking giant JPMorgan Chase has predicted a 60 percent chance for the next US recession to occur by 2020. In a global market crash, can crypto be a viable alternative to existing stores of value? “The probability of a U.S. recession within one year is almost 28 percent, and rises to more than

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Watch out Wall Street, Blockchain is Coming: Fmr. JPMorgan Exec. Blythe Masters

blythe masters JPMorgan digital asset blockchainBlockchain innovator and former JPMorgan head of commodities Blythe Masters spoke at the London Metal Exchange annual dinner during the LME Week to say that blockchain is coming to commodity markets to introduce heightened confidentiality, reduce paper waste, and improve provenance and productivity. Masters — who became managing director at JPMorgan at the age of 28

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Crypto Startups Move to Hong Kong Skyscrapers While Major Banks Check Out

The real estate market of Hong Kong is said to be one of the most expensive in the world, alongside New York, London, and Sydney. Yet, crypto startups are moving into the most valuable skyscrapers in the city. On August 22, CCN reported that BitMEX, a popular cryptocurrency exchange that facilitates Bitcoin and Ethereum margin

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JPMorgan’s Ethereum-Based Blockchain Payments Trial Adds 75 Banks

A blockchain payments trial jointly launched by a trio of banks led by JPMorgan has roped in 75 new banks globally for seamless and faster interbank settlements. First deployed by JPMorgan in October 2017, the Interbank Information Network began as a blockchain experiment to minimize the participants and friction typically involved in a global payments

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Citigroup is the Latest Bank to Offer Crypto Custody: Here’s How it Will Affect the Market

According to Business Insider’s Frank Chaparro, sources close to Citibank revealed that the $175 billion New York-based bank will offer crypto custody solutions to institutional investors. Through the launch of a product called Digital Asset Receipt (DAR), Citigroup will enable institutional investors to invest in cryptocurrencies in a fully insured and regulated manner. Similar to

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Jamie Dimon Still a Member of the ‘Blockchain Not Bitcoin’ Brigade

Earlier this year, Elizabeth Stark, CEO of cryptocurrency development startup Lightning Labs, famously said that the industry had begun to enter a “bitcoin not blockchain” era as mainstream firms came to recognize the value of cryptocurrency technology. Not everyone, however, is ready to hop off the “blockchain not bitcoin” train. Speaking with the Harvard Business

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JPMorgan Wants to Use Blockchain to Issue ICO Tokens

American investment banking giant JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue virtual depository receipts that sound suspiciously like initial coin offering (ICO) tokens. JPMorgan Wants to Host IPOs on a Blockchain The patent application, filed by JPMorgan in January and published by the U.S. Patent &

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