JPMorgan's CEO, Jamie Dimon, is facing strong criticism from the cryptocurrency community on social media, particularly on X (formerly known as Twitter). This backlash comes after he asserted that Bitcoin (BTC) is currently trading at $43,908 and that its "only legitimate use" is to facilitate illegal activities such as criminal operations, drug trafficking, money laundering, and tax evasion. Dimon made these remarks during a hearing before the United States Senate Committee on Banking, Housing, and Urban Affairs on December 5, where he also suggested that if he were in charge, he would shut down Bitcoin.
However, crypto enthusiasts were quick to point out the apparent double standard in Dimon's statements. They highlighted the fact that JPMorgan is the second-largest bank to have faced substantial penalties, accumulating a total of
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First found on: Cryptocurrency Community Slams JPMorgan CEO for Accusing Bitcoin of Criminal Use
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