What a surprise, Jamie Dimon calls bitcoin a fraud only for his bank to be caught brokering sales of bitcoin for their "clients" in the moments and days proceeding his statements.Â
Image from: bitcoinnews.com
So what's the latest in the JP Morgan - Bitcoin Fiasco?
Many in the cryptoverse have been wondering what Dimon or JP Morgan's intentions where behind such a public fiasco until a savvy Twitter page posted the proof of JP Morgan's brokering of bitcoin sales. In the recent article today published by Trustnodes, it is outlined clearly that at the very least - directly following Dimon's statements JP Morgan purchased at minimum (95) bitcoins. This does not include however the revelation that JP Morgan had brokered sales of at least 19,000 bitcoins over the course of the last few days.Â
Image from: businessinsider.com
Blockswater, a Sweden based financial supervisory authority has filed a market abuse report with the European Union's Market Abuse Regulatory body. The company which has stated that Jamie Dimon, "knew, or ought to have known", the information he was suggesting to the public at large was outright false or at minimum misleading. As a CEO of one of the world's largest banks - Dimon should know better. Will this amount to much of anything? No, but it's positive to see Dimon getting some heat for his behavior in regards to the crypto marketplace.Â
What Could Be Dimon's Motivation For Bashing Bitcoin?
Very simple, the banks have been working on their own blockchain projects and cryptocurrencies for some time now. This is old news, but what many haven't realized about JP Morgan specifically is that they have been particularly busy in trying to get their blockchain patented. This is quintessential posturing by JP Morgan, and if you're looking in the right places you should realize that if Bitcoin wasn't a threat, CEO's like Dimon wouldn't have much to say.Â
While Dimon, and JP Morgan will come out of this unscathed, let's keep in mind that the bank has had tens of billions in fines over the last few years - but their anxiousness and fear related to the emerging crypto market is as palpable as it's ever been.Â
Sources:
http://www.trustnodes.com/2017/09/21/market-abuse-report-filed-jp-morgans-ceo-bitcoin-comments
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwiI6Zmfg7fWAhXKMyYKHaGtBC4QqUMIKjAA&url=https%3A%2F%2Fnews.bitcoin.com%2Fjamie-dimons-bitcoin-statements-reported-as-market-abuse-in-sweden%2F&usg=AFQjCNHD77B09RxZSjD5_t9V9DiwtzxMBQ
https://qz.com/1083781/jpmorgans-jamie-dimon-is-accused-of-manipulating-the-bitcoin-btc-price-in-sweden
/https://www.cryptocoinsnews.com/bitcoin-trader-asks-swedish-regulator-to-investigate-dimon-for-trashing-bitcoin/