Just this year, JPMorgan CEO called crypto is a ‘hyped-up fraud’, a ‘waste of time’ and 'pet rock'. Yet we see JPMorgan launch a network with JPM Coin, which recently went live, that mimics real crypto but it's private and centralized. The issue is not cr

JPMorgan's CEO has had a lot of negative things to say about crypto time. He has said very very many anti-crypto things but even just this year he said that crypto is a ‘hyped-up fraud’, a ‘waste of time’ and 'pet rock'. These statements however are strange considering JPMorgan investment and push into blockchain tech and development of their own coin on top of the seven or so crypto funds JP runs.

Onyx is an team and division under JP who developed the JPM Coin which is a private and centralized blockchain run by JP with a token called JPM Coin used for settling and clearing transactions between JP Morgan customers. JPM Coin even recently went like for euro transactions. Even JP Morgan's CEO acknowledged the vast superiority of a blockchain token over legacy systems in the speed, convenience and 24/7 nature of transactions.

All this is to say that they don't have an issue with crypto really. It's about the ability for them to control the coins and tokens.