JPMorgan Eyes Crypto‑Backed Loans Despite Dimon’s “Fraud” Past Remarks
- JPMorgan Chase is reportedly planning to offer loans secured by clients’ Bitcoin and Ethereum holdings, potentially as early as next year.
- This move marks a significant change for CEO Jamie Dimon, who famously called Bitcoin a “fraud” in 2017 and later a “scam” and “decentralized Ponzi schemes”.
- JPMorgan will likely partner with third-party custodians, such as Coinbase, to manage the crypto collateral.
JPMorgan Chase is gearing up to offer loans backed by crypto holdings, including Bitcoin (BTC) and Ethereum (ETH).
According to sources cited by the Financial Times, the bank could begin offering crypto-collateralised lending as soon as next year.
JPMorgan hasn’t confirmed the…
