JP Morgan Chase is again in the eye of the hurricane. As you know, the CEO of the banking institution, Jamie Dimon, has long been referred to as one of the main detractors of Bitcoin (read la Bitcoin guide)e other virtual uniforms. To justify this reputation was in particular the contemptuous judgment with which he long branded the creation attributed to Satoshi Nakamoto, equating it to a real scam. A judgment that pushed him to the point of declaring his will to fire any trader of the bank who was surprised to trade with BTC. This at least until just JP Morgan Chase it was not surprised to buy digital coins, justifying the circumstance with customer requests. An event that has prompted more than one analyst to accuse Dimon of practices aimed at altering the price of Bitcoin for the benefit of the institution he directs.
JP Morgan Chase would have manipulated the price of gold for years
The accusations that are now raining on the banking institution should therefore not be surprising, precisely in light of what has been said so far. According to the news revealed by Bloomberg on September 16, JP Morgan Chase would be in the middle of ainvestigation into the behavior of at least a dozen precious metal traders. In particular, the company's employees voluntarily resorted to price-fixing practices for precious metals on thousands of occasions, as a result of which both the investors and the customers of the institution would suffer significant losses.
It was the prosecutor Brian Benczovski to affirm that the practice would go on for no less than eight years and to now want to investigate thoroughly what has happened by reconstructing all operations of this kind in order to nail the bank to its responsibilities. His words, released precisely in Bloomberg, have been judged by Bitcoin supporters as one law of retaliation, arousing considerable irony towards Dimon.
Reactions to the news
A Twitter analyst was responsible for dealing the strongest blow to JP Morgan Chase's reputation. Rhythm, which was enough to remember how the bank whose CEO accused Bitcoin of being a scam was in turn accused of bank fraud and market manipulation.
A sort of karma that has also affected another banking institution in the past that had declared itself decidedly opposed to cryptocurrencies, in particular to BTC, stating how they presented characteristics that made them the ideal tool for money laundering activities. It's about Rabobank, a well-known Dutch banking institution, which in 2018, a few months after making statements to that effect, was in turn caught in the act precisely for money laundering activities, being sanctioned for as much as 369 million dollars. So much as to push someone to say that the complaints from the banking world towards Bitcoin and Altcoin are basically nothing more than maneuvers aimed at killing a potential competitor in their own activities, even those of an illegal nature, that the banks themselves do not make excessive scruple to use.