{"id":14039,"date":"2022-09-29T17:23:00","date_gmt":"2022-09-29T17:23:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-calls-out-jpmorgans-jamie-dimon-on-crypto-threat\/"},"modified":"2022-09-29T17:23:00","modified_gmt":"2022-09-29T17:23:00","slug":"kevin-oleary-calls-out-jpmorgans-jamie-dimon-on-crypto-threat","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-calls-out-jpmorgans-jamie-dimon-on-crypto-threat\/","title":{"rendered":"Kevin O’Leary Calls Out JPMorgan’s Jamie Dimon on Crypto Threat"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Shark Tank\u00a0host and multi-millionaire venture capitalist Kevin O\u2019Leary came out hard against the CEO of JPMorgan, Jamie Dimon<\/a>, on Wednesday.<\/p>\n

In an appearance at Converge22, O\u2019Leary said that the CEO of the banking giant is feeling threatened by how crypto is disrupting the traditional payments systems.<\/p>\n

O\u2019Leary responded to Dimon\u2019s testimony to the United States Congress last week, where he said to be a \u201cmajor skeptic\u201d of \u201ccrypto tokens, which you call currency, like Bitcoin<\/a> <\/p>\n

\u201d and furthermore called them \u201cdecentralized Ponzi schemes. <\/p>\n

The millionaire investor pinpointed the pain points of traditional finance, its behavior, attitude and dynamics and also made the case for stablecoins<\/a>:<\/p>\n

O\u2019Leary explained that friction is one of the major problems in the traditional financial system and that it\u2019s how banks profit on transaction fees, adding that\u00a0stablecoins\u00a0could lead to a reduction in fees throughout the world. He stated:<\/p>\n

\u201cThis isn\u2019t about speculation on asset price. This is about reducing the fees of how the world\u2019s economies work. More transparent, more productive, completely auditable, regulated, but less expensive. So, does Jamie Dimon feel threatened? You are damn right he does. That is a big part of how he makes money.\u201d\u00a0<\/em><\/p>\n

According to the Shark Tan host, regulatory clarity is needed for sovereign wealth and pension funds to be adding digital assets to their portfolios, and said:<\/p>\n

\u201cIf you are a sovereign wealth fund or a country that is oil rich, perhaps you are generating a quarter of $1,000,000 in the 12 hours. The only place on earth you can plot that is in the S&P. The only way you can do that is to be compliant with the SEC rules. They are never going to make a move against the SEC in any way until these rules are determined.\u201d<\/em> <\/p>\n

O\u2019Leary, a former Bitcoin skeptic, said to hold around 10% of his worth in crypto with the promise of considering to increase his allocations up to 20% once there are clearer regulations around stablecoins<\/a>.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Shark Tank\u00a0host and multi-millionaire venture capitalist Kevin O\u2019Leary came out hard against the CEO of JPMorgan, Jamie Dimon, on Wednesday. In an appearance at Converge22, O\u2019Leary said that the CEO of the banking giant is feeling threatened by how crypto is disrupting the traditional payments systems. […]<\/p>\n","protected":false},"author":5,"featured_media":14040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14039"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14039"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14040"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}