The post Pro XRP Lawyer John Deaton critiques JPMorgan’s unexpected crypto move appeared on BitcoinEthereumNews.com.

Under CEO Jamie Dimon’s leadership, JPMorgan Chase has recently been named as an Authorized Participant (AP) in BlackRock’s Bitcoin Spot Exchange-Traded Fund (ETF). This development has sparked a flurry of discussions and reactions, particularly from figures in the cryptocurrency community, including pro-XRP lawyer John Deaton. JPMorgan’s involvement in BlackRock’s ETF: A shift in stance JPMorgan’s new role as an AP in BlackRock’s Bitcoin Spot ETF has caught many off-guard, especially given Jamie Dimon’s critical remarks about cryptocurrencies, particularly Bitcoin. BlackRock, a global investment giant, has revealed this association in its latest Securities and Exchange Commission (SEC) filing, marking a significant moment in the relationship between traditional finance and the cryptocurrency sector. The revelation has led to intense scrutiny and comments from various corners of the crypto community. John E. Deaton, a renowned lawyer and a prominent figure in the XRP community, has been particularly vocal. He pointed out the irony in JPMorgan’s involvement with Bitcoin, considering Dimon’s historical skepticism and outright dismissal of cryptocurrencies. Deaton’s remarks underscore the perceived contradiction in JPMorgan’s stance, questioning the bank’s previous position on digital currencies. Senior Bloomberg ETF Analyst Eric Balchunas has echoed the crypto community’s reaction. He highlighted the significance of JPMorgan’s inclusion as an AP alongside other major financial entities like Jane Street and Virtu. This development adds another layer to the evolving narrative of traditional financial institutions gradually embracing cryptocurrencies. Popular crypto handles, such as Bitcoin Archive, have also weighed in, underscoring the contrast between Dimon’s earlier calls for a Bitcoin ban and the bank’s current involvement in the ETF. This shift in stance is further highlighted by figures like Dan Held and the handle Zerohedge, who have pointed out the stark difference between Dimon’s previous anti-Bitcoin rhetoric and the bank’s latest move. Furthermore, Fox journalist Eleanor Terrett clarified the role…

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Filed under: News - @ December 30, 2023 10:24 pm