Dimon Says Crypto Tokens Are ‘Decentralized Ponzi Schemes’

From bnnbloomberg.ca

Jamie Dimon didn’t mince words when a US lawmaker mentioned the executive’s history of criticizing cryptocurrencies. “I’m a major skeptic on crypto tokens, which you call currency, like Bitcoin,” the JPMorgan Chase & Co. chief executive officer said in congressional testimony Wednesday. “They are decentralized Ponzi schemes.” Stablecoins -- digital assets tied to the value of the US dollar or other currencies -- wouldn’t be problematic with the proper regulation, and JPMorgan is active in blockchain, Dimon said. The comments represent the latest criticism leveled against digital currencies by ... (full story)