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Strategies & Market Trends : Technical analysis for shorts & longs

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To: Johnny Canuck who wrote (64657)

7/22/2025 3:27:01 AM

From: Johnny Canuck

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Sounds like a bad idea and the signal for a top in crypto????

>>>>>>>>

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Cryptocurrencies

JPMorgan explores lending against clients’ cryptocurrency
Bank’s chief Jamie Dimon once branded bitcoin a ‘fraud’ but he has now moderated his tone

This would be the first time JPMorgan made loans secured directly against assets such as bitcoin © Michael Nagle/Bloomberg

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Joshua Franklin in New York

Published17 minutes ago

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JPMorgan Chase is exploring lending against clients’ cryptocurrency holdings in the latest sign that the biggest US banks are endorsing digital assets’ move into the mainstream.
The policy would mark a big shift for JPMorgan chief executive Jamie Dimon, who eight years ago branded bitcoin a “fraud” that would “eventually blow up” and was only useful for drug dealers and murderers.
JPMorgan could start lending directly against crypto assets such as bitcoin and ethereum next year, according to people familiar with the matter, who cautioned that the plans were subject to change. JPMorgan declined to comment.
The move would underscore the extent to which big banks, and the regulated financial industry more broadly, are opening up to closer interaction with cryptocurrencies.
According to one person familiar with the matter, Dimon’s early comments about bitcoin — in which he also said he would fire any trader who traded it — had alienated some prospective clients who either had made their money through crypto assets or were long-term believers in their potential.
More recently, Dimon has softened his tone. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin. Go at it,” he said in May.
The bank has already made some steps to embrace crypto with plans to begin lending against holdings in crypto exchange traded funds. Lending against the actual assets would be a further step. Rivals such as Goldman Sachs do not accept crypto as collateral.
More banks have embraced crypto as the mood changes in Washington, with the second Trump administration favouring lighter regulation compared with Biden’s. Morgan Stanley has been weighing a move to offer crypto trading through the ETrade platform.
The US House of Representatives passed legislation last week to regulate stablecoins, in the first major crypto laws approved by Congress.
Large banks cheered the bill as a way to make it easier for them to do business with digital assets. Unlike cryptocurrencies such as bitcoin, which are not backed by an underlying asset, stablecoins are pegged to assets such as the US dollar.
One concern for banks is that digital assets can be a financial tool for criminal activity, raising issues over money laundering and compliance.
To make loans secured directly against crypto, JPMorgan would need to resolve the technical issue of how to handle crypto seized from customers who failed to repay their loans.

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JPMorgan, like most US banks, does not keep cryptocurrencies on its balance sheet.
The bank would instead be likely to work with a third party that would take custody of the crypto assets on behalf of JPMorgan. Companies such as Coinbase, a crypto exchange, offer such services.
While JPMorgan has historically been reluctant to engage with popular cryptocurrencies such as bitcoin, it has been active in digital assets more broadly and developed one of the first bank-backed digital coins in 2019.

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