Bitcoin News Update: Dimon Changes Course as JPMorgan Supports Crypto Lending in Response to Market Changes
- JPMorgan Chase will let institutional clients use Bitcoin and Ethereum as loan collateral by year-end, via third-party custodians. - The move follows broader crypto adoption by banks like Morgan Stanley and Fidelity amid Bitcoin's price surge and relaxed regulations. - CEO Jamie Dimon's softened stance reflects growing client demand and evolving global crypto frameworks in EU, Singapore, and UAE. - Third-party custody mitigates security risks while regulatory uncertainty and volatility remain key challen
JPMorgan Chase & Co. (JPM) is preparing to transform its lending operations by enabling institutional customers to use
This development highlights a growing movement among established financial institutions to adopt digital assets, fueled by more favorable regulations and a surge in Bitcoin’s value. With Bitcoin hitting a record high of $126,251 earlier this month and the Trump administration easing crypto regulations, leading banks are moving more quickly into the sector, according to
This move by JPMorgan also marks a notable change for a bank that has historically been wary of cryptocurrencies. CEO Jamie Dimon, who once referred to Bitcoin as a "pet rock," has softened his position, saying in May that he "supports your right to purchase Bitcoin" even though he remains personally cautious, as reported by
By employing a third-party custodian, the program addresses security issues, since
Industry experts suggest that JPMorgan’s strategy could encourage broader adoption, especially as BlackRock and other companies gain the ability to convert client-held Bitcoin into ETFs, according to analysts at Seeking Alpha. Nevertheless, significant hurdles remain, including the necessity for comprehensive risk management systems and the possibility of regulatory changes with future government administrations, Bloomberg analysts caution.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI’s Risky Bet on Volatility Fails: 80% Plunge Reveals Market’s Heavy Dependence
- Alpha Arena's report reveals 80% capital loss in AI-driven trading models, exposing algorithmic strategy flaws amid market volatility. - BigBear.ai faces 18% revenue decline and $90M operating loss due to Trump-era spending cuts, despite defense tech partnerships. - C3.ai struggles with CEO departure, legal disputes, and 50% stock drop, contrasting UiPath's 14% AI-powered revenue growth and 108% retention rate. - Market skepticism grows as AI volatility risks emerge, with quantum computing still distant
Bitcoin News Update: Institutions Invest $314 Million in Bitcoin as Bull Market Targets $115,000
- Bitcoin approaches $115k as RUL drops below 5%, signaling strong long-term holder confidence. - Institutions like BlackRock deposit $314M BTC/ETH into Coinbase, while Fed explores crypto payment accounts. - ETF inflows favor Bitcoin over Ethereum, but derivatives hedging and macro risks pose breakout challenges. - Technical indicators show consolidation with elevated open interest, awaiting regulatory clarity for next moves.
Cardano News Today: Cardano's $0.62 at a Critical Point: Bulls Eye $2.96, Bears Aim for $0.50
- Cardano (ADA) faces a 20% monthly decline near $0.64, with analysts divided on its potential for a bullish breakout or further losses. - A critical $0.63–$0.64 support defense could trigger a 333% surge to $2.96, while a breakdown below $0.62 risks a drop to $0.50. - Whale accumulation of 200M ADA tokens and stable market cap ($22–$25B) contrast with broader crypto market weakness affecting ADA, Bitcoin, and Ethereum. - Short-term momentum indicators show improved buying pressure above $0.67–$0.68, but f
Healthcare organizations resolve privacy litigation to mitigate risks amid increased examination of tracking technologies
- Pomona Valley Hospital settles $600,000 lawsuit over unauthorized Facebook Pixel tracking on its website, alleged to violate California privacy laws. - The class-action, filed in 2023, claimed the hospital illegally intercepted user data via tracking tools during patient portal logins between 2019-2022. - Settlement terms include pro-rata payments to affected California residents, with funds covering legal fees and administrative costs, though the hospital denies wrongdoing. - The case reflects heightene
Trending news
MoreCrypto prices
More
