JPMorgan CEO: Bitcoin Not a Fraud


The CEO of the financial services company JP Morgan Chase “regrets” statements he made in September of 2017 when he publicly denounced bitcoin as being fraud. His accusations included claiming that the craze was worse than the much‐referenced tulip bulb frenzy, and threatening to fire anyone “stupid enough to trade bitcoin.” Nonetheless, JP Morgan’s firms began openly trading bitcoin when futures were launched.

Now in January 2018, the embarrassed CEO is forced to recant the statements he made, likely having spent much time wishing he could eat his words, having created an army of enemies after calling people who buy bitcoin stupid.

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