Moneymaker J.P. Morgan get into Crypto
A story from the last few years turned from Hate to Love.
So, what would be the benefit for #Hive from this change and what do we need to do to gain some traction for Hive.
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I did this article based on an inspiration from the German news. Thought, a interesting topic which need some more details. So, I startet my research on that topic, writing my script and used Claude.ai for some help on research and some formating. Plus Google Gemini for the picture creation and a lot of time to finetune all this into a cool post - just to clearify!!
Hey Hive Family
Crypto and the mass market?
are we already there?!
_How does this affect _
JPMorgan: Building Billions on the "Fraud"
I've watched Jamie Dimon call Bitcoin a fraud for eight years while his bank processed $1.5 trillion in blockchain transactions. The JPMorgan Chase CEO has called it a "Ponzi scheme," a "pet rock," and said it enables only money laundering. Then in June 2025, his bank launched a token on Ethereum.
This is the most fascinating corporate paradox I've ever seen.
The Anti-Crypto Prophet
Jamie Dimon's timeline is impressively consistent:
September 2017: "It's a fraud. Someone is going to get killed." He'd "fire in a second" any trader buying it.
January 2023: At Davos, he called Bitcoin a "hyped-up fraud" and a "pet rock."
January 2024: "Bitcoin does nothing" except enable "money laundering and sex trafficking."
April 2024: "It's a Ponzi scheme."
Every year, same sermon. Predictable as the halving cycle.
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What JPMorgan Actually Built
While Dimon preached, JPMorgan became a blockchain giant.
The bank's Kinexys platform processed $1.5 trillion since 2020, averaging $2 billion daily. Clients include Siemens, BlackRock, and Ant International.
In May 2025, JPMorgan settled its first transaction on a public blockchain with Chainlink and Ondo Finance. For years they used private blockchains. Now they're going public.
Then June 2025: JPMorgan announced JPMD, a deposit token launching on Coinbase's Base blockchain, built on Ethereum.
The CEO who called Bitcoin worthless just launched a token on the second-largest cryptocurrency network.
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The Hidden Distinction
Dimon isn't contradicting himself. He's making a distinction most people miss.
He hates Bitcoin as currency but loves blockchain as infrastructure. "Blockchain is a technology ledger system we use to move information," he explained.
JPMorgan makes money being the intermediary. Bitcoin's value proposition is removing intermediaries. Of course he hates it.
But blockchain that makes JPMorgan's services faster and cheaper? That's an upgrade.
Yes, the Government Accountability Office found crypto on sex trafficking sites. But less than 1% of Bitcoin transactions link to illicit activity. Meanwhile, JPMorgan has paid $40 billion in regulatory fines.
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Two Parallel Futures
Banks see two crypto futures and play both sides:
Future A: Decentralized currencies disrupt banking. People use DeFi protocols, hold self-custody wallets, and eliminate intermediaries. Dimon fights this.
Future B: Blockchain becomes traditional finance infrastructure. Banks tokenize assets, use smart contracts, but remain gatekeepers. JPMorgan builds this.
Think about the internet. We have the open web and walled gardens like Facebook. Both exist. Both thrive.
Crypto follows the same path. JPMD is "permissioned," only for institutional clients. They want blockchain's efficiency without its decentralization.
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The Institutional Wave
While Dimon talked, institutions built.
November 2024: Mastercard connected to JPMorgan's Kinexys for cross-border B2B blockchain payments.
Fidelity tests stablecoins. Morgan Stanley builds crypto trading. BlackRock expands tokenized treasuries.
This isn't experimentation. This is production infrastructure.
Even Dimon softened recently, calling himself a "believer in stablecoins." When BlackRock's Larry Fink went from calling Bitcoin money laundering to managing a Bitcoin ETF, the game changed.
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Five Lessons
One: Actions matter more than words. What companies build reveals their strategy.
Two: Institutional adoption means banks building parallel blockchain infrastructure, not buying Bitcoin.
Three: The real battle is permissionless vs. permissioned blockchains. Both have space.
Four: As institutions adopt blockchain, they'll push regulations favoring their walled gardens.
Five: Decentralized alternatives will thrive anyway. Institutional blockchain doesn't kill DeFi.
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Your Move
When America's largest bank CEO calls something fraud while betting billions on it, the technology is inevitable. The question is who controls it.
Building in Web3? Don't wait for validation. JPMorgan built while Dimon trashed crypto publicly.
Entering Web3? Understand the difference between infrastructure (blockchain, smart contracts) and ideology (decentralization, self-custody).
Investing in Web3? Watch what companies build, not what executives say. JPMorgan's actions predicted adoption years before Dimon softened.
Skeptical? The world's biggest crypto skeptic runs a bank processing $2 billion daily in blockchain transactions.
The Jamie Dimon paradox shows that institutional adoption and decentralized innovation can coexist and compete simultaneously.
Your job isn't picking sides. It's understanding both tracks and figuring out where you build something that matters.
The real fraud? Pretending the future of finance isn't already being written on blockchains, whether Dimon admits it or not.
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Love to get your Feedback
Spending some hours on this, learned my lessons but love to get your opinion or view on this as I might be wrong in some parts.
Most importand question
Where do we see a development for #Hive in this world
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Have a great day everybody
and let us travel the world again
Enjoy the #BeerSaturday
have 3 pics and a story
around beer - and go!
@Detlev loves HIVE
