Is Jamie Dimon a 'decentralized Ponzi scheme'?

Jamie Dimon slammed bitcoin and some other crypto as "decentralized Ponzi schemes." The JPMorgan CEO said they enable theft, money laundering, and other crimes. However, Dimon touted blockchain and said he would welcome a properly regulated stablecoin.

Are crypto tokens Ponzi schemes?

JPMorgan Chase CEO Jamie Dimon likened crypto tokens to Ponzi schemes before a U.S. House Committee Oversight hearing on Wednesday, reiterating his well-known criticism of cryptocurrencies. “I'm a major skeptic on crypto tokens, which you call currency like Bitcoin.

Is this a $1 billion Ponzi scheme?

The money involved appears to have affected investors across the globe, including crypto buyers in the U.S., the U.K., the Netherlands, Canada and Australia. “ [One] appears to be a $1 billion Ponzi scheme. That’s billion with a 'B' and this lead also touches every single J5 country,” Lee said.

Is Dimon a skeptic of blockchain?

However, Dimon said he is not a skeptic of blockchain technology itself or other innovations such as Decentralized finance (DeFi) and “tokens that do something” such as those used to transact money or other information when asked what were the biggest obstacles preventing JPMorgan from being more active in the crypto space.