JP Morgan Chase CEO Jamie Dimon Likens Crypto to Pet Rocks and Calls for More Regulation.

Jamie Dimon, chairman and CEO of global investment bank JPMorgan Chase, talked about crypto exchanges and their regulation during an interview on Tuesday, saying this when asked if the meltdown at FTX had any effect on no matter what he believes and something is about to happen in the economy when he says crypto is a side show and well you guys spend way too much time on it and he himself about crypto Completely destroyed by his thoughts and saying that he is just like a rock and people are getting attracted towards it. where it is said to have been traded as live rocks in 1975 with over 1 million pet rocks being sold for $4 each and this going on for about 6 months .
Commenting on the US Treasury Secretary, the CEO of JP Morgan said that the collapse of the cryptocurrency exchange was a nightmare for crypto, where we can see that as old hurt, so does this new one. and we can say that crypto is worth a trillion dollars but they also believe that crypto regulation should be strengthened and other things that the American public should see is that you look at all the buying and selling and if Bitcoin is worth less than a trillion dollars today so of course we can’t even believe it’s a real market it costs 20 to 30 billion a year we know its regulated and a lot of anti terrorist And financing and defending tomorrow and sex trafficking for what we don’t let stuff happen just add to that and say you know the ones that hurt the banks and maybe the ones following the rules pay attention to crypto should and at the same time he says that while downplaying the importance of crypto I extolled the importance of blockchain technology where the potential is and should be immense and he reiterated his belief in blockchain technology and said that it doesn’t mean that blockchain isn’t real and it doesn’t mean anything. Not that Smart Contracts will not be the beginning of a real web 3.0 but what currencies they don’t understand why people put their time into it when the possibilities are so much more in blockchain technology and we can know that That too the possibilities of 3.0 are more than this where Dimon has not been a organiser of currencies like bitcoin and Equipo for a long time and in September he told that crypto token is decentralised scheme where he said that bitcoin is worthless and warned people Be careful while investing in crypto currency as it has no feature and no internal valuation and in May last year he personally advised investors to stay away from crypto trading and advised them to Personally dislike crypto currency but his foreign bank still advises and encourages people to invest in crypto currency and keeps offering investment many times.