JPMorgan CEO Calls Crypto Tokens a Decentralized Ponzi Scheme

JPMorgan Chase CEO Jamie Dimon has been a critic of cryptocurrencies, calling them a decentralized Ponzi scheme in testimony before the U.S. Congress on Wednesday. Dimon said stablecoins — digital assets pegged to the U.S. dollar or other currencies — would be fine if properly regulated, and JPMorgan is also active on blockchain. Dimon has also previously called Bitcoin a scam.

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