JPMorgan Places Child In Charge Of Childish Cryptocurrencies

To hear him tell it, Jamie Dimon doesn’t get bitcoin or the cryptocurrency craze it spawned. He thinks it’s a doomed fraud, the trading of which is a firing offense. Frankly, he’s not even all that interested in cryptos, because they are quite frankly uninteresting and also unimportant. His bank doesn’t know what to make of them.

But as always, the next president of the United States knows more than he’s letting on. Now that JPMorgan’s being forced into the crypto game, Dimon needs a point person to handle it. And who better to do so than an actual child, a 29-year-old with all of four years of Wall Street experience. You know, the kind of person who actually understands the kind of people who trade in bitcoin. It’s a masterstroke.

The US bank has just moved Oliver Harris, the head of an in-house scheme to develop new financial technologies, into a role looking at the use of cryptocurrencies across its corporate and investment bank, according to people familiar with the matter…. JPMorgan’s corporate and investment bank offers a broader range of services than Goldman and people familiar with the matter said Harris will also investigate the possibility of crypto custody services and how blockchain might be applied to its payments business.

JPMorgan launches crypto strategy months after Dimon ‘fraud’ warning [FN]

This article provided by NewsEdge.