Dimon: "Crypto tokens are like pet rocks, and people are hyping this stuff up"
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JPMorgan Chase CEO Jamie Dimon ridiculed cryptos as a “complete sideshow” that are useless as “pet rocks” while bashing regulators for beating up on big banks instead of focusing on the growing crypto industry.
President Biden is gearing up to issue an executive action to develop an initial government-wide strategy for digital assets within a matter of days that will put the White House at the central role in dealing with efforts to regulate the $2 trillion booming sector.
Miami Mayor Francis Suarez announced that he would take his “next paycheck 100% in Bitcoin,” aiming to be the first lawmaker at the state or federal level to accept part of his salary in digital currency.
Sen. Ted Cruz (R-TX) slammed his fellow colleagues for attempting to enforce “harmful regulations” on cryptocurrencies within the $1.2 trillion bipartisan infrastructure bill, an industry he argued that less than a handful have the knowledge to define “what in the hell a cryptocurrency is.”
Former President Trump launched his harsh attack on cryptocurrency Monday, calling Bitcoin a “scam against the dollar” and urged U.S. regulators to take action to monitor the hype.