Cryptocurrency trump
“We’re already seeing intelligent agents, equipped with crypto wallets, executing transactions autonomously,” he said. “As these use cases proliferate, they’ll further legitimize crypto’s role in the economy.” console commands cyberpunk 2077
“We consider (bitcoin) among the riskiest of asset classes that you can possibly invest in, with or without an ETF,” warned Daniel Strauss, director of ETFs and financial products research at National Bank of Canada Financial Markets, noting the cryptocurrency routinely has 80 per cent drawdowns in its value.
„Bitcoin is the currency of freedom, a hedge against inflation for middle class Americans, a remedy against the dollar’s downgrade from the world’s reserve currency, and the offramp from a ruinous national debt,“ RFK Jr. recently posted to X.
Over the past year, Trump has advocated for a national bitcoin reserve and growth in the bitcoin mining sector, and even rolled out a new crypto business in September. (About 75 per cent of the revenue could go to the Trump family, although they assume no liability).
Earlier this year, U.S. senator Cynthia Lummis (R-Wyo.) introduced The Bitcoin Act to Congress, calling for the creation of a strategic bitcoin reserve to reduce the U.S.’s spiraling, near-$36 trillion national debt by buying 1 million bitcoin over five years.
Cryptocurrency regulation sec
In some ways, we are now at the intersection of the two responses to addressing diminished public trust I just outlined. People who looked to crypto as a refuge from the ills of traditional finance are now experiencing those same ills in the crypto markets. They are being harmed by the very types of behavior that led Congress to create the securities laws in the first place—the same behaviors that have led to reduced trust in the markets: misstatements or misleading disclosures, conflicts of interest, and insiders abusing their positions for personal advantages at the expense of ordinary investors.
Howard Fischer, the moderator of the session at the Global Conference, asked Peirce how to find a balance between consumer protection and the personal responsibility of the investor. She reminded the attendees that it is not the SEC’s role to determine winners and losers in the marketplace and that every investment decision comes with risk and personal responsibility.
In some ways, we are now at the intersection of the two responses to addressing diminished public trust I just outlined. People who looked to crypto as a refuge from the ills of traditional finance are now experiencing those same ills in the crypto markets. They are being harmed by the very types of behavior that led Congress to create the securities laws in the first place—the same behaviors that have led to reduced trust in the markets: misstatements or misleading disclosures, conflicts of interest, and insiders abusing their positions for personal advantages at the expense of ordinary investors.
Howard Fischer, the moderator of the session at the Global Conference, asked Peirce how to find a balance between consumer protection and the personal responsibility of the investor. She reminded the attendees that it is not the SEC’s role to determine winners and losers in the marketplace and that every investment decision comes with risk and personal responsibility.
One can imagine that the suggestion would cause the crypto sector to be up in arms, but it has merit, provided it’s not overused and one appropriately defines ‘significant risk’. TradFi has standard approaches to risk management which can be tweaked and ported to the crypto world. The more responsible players already do this.
By the time I became Enforcement Director in July 2021, the SEC had already brought dozens of enforcement actions to address widespread noncompliance in the crypto markets. But, noncompliance, and the attendant investor risk, remained pervasive. Meanwhile, four months later, the combined market capitalization of crypto assets reached approximately $3 trillion. This marked a 15-fold increase from just two years earlier. Soon after, however, the crypto market cratered, abetted by a series of high-profile failures and bankruptcies of major firms that caused extensive investor losses. It lost two-thirds of its market capitalization in just nine months, shedding value even quicker than it had gained it.
Cryptocurrency jamie dimon
Despite his skepticism towards cryptocurrencies, Dimon acknowledged the effectiveness of blockchain technology. He reiterated his view by calling cryptocurrency a “pet rock” but praised blockchain as a “great way to share data.”
Dimon is one of the few bank chief executives to have become a billionaire, largely because of his stake in JPMorgan Chase. He received a $23 million pay package for fiscal year 2011, more than any other bank CEO in the US. However, his compensation was reduced to $11.5 million in 2012 by JPMorgan Chase following a series of controversial trading losses that amounted to $6 billion. On January 24, 2014, it was announced that Dimon would receive $20 million for his work in 2013; a year of record profits and stock price under Dimon’s reign, despite significant losses that year due to scandals and payments of fines. The award was a 74% raise, which included over $18 million in restricted stock.
JPMorgan’s blockchain network, Onyx, was launched in 2020 and is based on a forked version of Ethereum ETH/USD. It supports wholesale payments, peer-to-peer lending, and cross-border transactions. The network has processed over $700 billion worth of transactions and includes firms like Goldman Sachs, DBS Bank, and BNP Paribas among its users.
Despite his skepticism towards cryptocurrencies, Dimon acknowledged the effectiveness of blockchain technology. He reiterated his view by calling cryptocurrency a “pet rock” but praised blockchain as a “great way to share data.”
Dimon is one of the few bank chief executives to have become a billionaire, largely because of his stake in JPMorgan Chase. He received a $23 million pay package for fiscal year 2011, more than any other bank CEO in the US. However, his compensation was reduced to $11.5 million in 2012 by JPMorgan Chase following a series of controversial trading losses that amounted to $6 billion. On January 24, 2014, it was announced that Dimon would receive $20 million for his work in 2013; a year of record profits and stock price under Dimon’s reign, despite significant losses that year due to scandals and payments of fines. The award was a 74% raise, which included over $18 million in restricted stock.
JPMorgan’s blockchain network, Onyx, was launched in 2020 and is based on a forked version of Ethereum ETH/USD. It supports wholesale payments, peer-to-peer lending, and cross-border transactions. The network has processed over $700 billion worth of transactions and includes firms like Goldman Sachs, DBS Bank, and BNP Paribas among its users.
