JPMorgan CEO Jamie Dimon strongly opposed the Clarity Act, criticizing it for allowing stablecoins to pay interest on deposits without proper protections and lacking adequate AML/BSA measures, while vowing that the banking industry would fight the legislation despite claims it represents the whole industry.
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JPMorgan DECLARES WAR on Crypto! Jamie Dimon Calls Coinbase CEO "FULL OF SH*T" Over The Clarity ActAñadido:
What's happening ladies and gentlemen, Anthony here from the Wall Street Bull and Earn Curve. Hope you're all doing well. Sorry about no updates. I've been extremely busy during the week. We have a total crypto market cap of 2.47 trillion dollars. It is still significantly down. Also significant outflows for the last, you know, 2 weeks from the Ethereum and Bitcoin exchange-traded funds as you can see right here.
Billions of dollars flowing out. Bitcoin is currently down to 73,438 US dollars. Ethereum sitting at 2012.
XRP $1.39.
We have Solana at $82. TRX at 34 cents.
Dogecoin sitting at 10 cents. Cardano at 23. And also XLM at 25 cents. There is a really interesting interview with Jamie Dimon from, of course, JPMorgan. You guys need to listen to this cuz it's wild. But before we do, go join Earn Curve, my spot crypto exchange. Go to earncurveinvest.com, register KYC, and I will apply a 10% discount to your trading. As you can see right here, my harvest bots are working nonstop for me. Total profit for my personal harvest bots, 155.64 USD. Total in about just over 2 months right now, 17.6% return. I am running grid bots with my harvest bots on XRP, Ethereum, Solana, XLM, Sui as well. And I will be starting more in the coming days. As you can see right here, I have taken some profit out. So the platform total profit was 155. Today is the 30th of May, as you can see. Look at this. There's just heaps of profits moving into my sub account. So, go to earncurveharvestbots.com.
Now, let's listen to Jamie Dimon.
>> Comes to a third world, a fourth world.
So, the first one may be legitimate, second one may be a sex trafficker. So, you know, this is complicated and the government is doing thoughtfully. If they don't do it thoughtfully, it won't be good cuz it'll be a huge problem.
>> So, are you happy with the way the Clarity Act is turning out?
>> No.
No, because it it it it allows them to effectively pay interest on deposits, stable coins, or something like that without the protection that they should have. And it doesn't do anything for AML/BSA. It has almost no legal protections. So, no, it's a the banks will not accept it that way. And they won't and the ABA, the small banks, the credit unions, not just the big guys.
I'm not worried about stable coin, but if it happened, I'm telling you, I would have nothing to do with it and it would eventually blow up in its own. Okay, but that's my personal thing, but I do understand the concern of all the other banks, so.
>> Well, the markup is coming. I mean, what are you going to do about it?
>> we'll fight it. If we lose, we lose and we'll live.
>> Okay.
>> But it will be fought. This will not be No one No one's going to bow down to this guy, okay? Or that company. And by he's the only one and he's spending hundreds of millions of dollars on in Washington this thing.
>> He said he's he's representing the whole industry.
>> Wow. Um >> I'm going to watch that one.
>> Yeah.
Wow. Well, I mean, this is turning into a big fight between the whole you know, each industry and and and you're talking about blockchain and and and getting blockchain out.
>> do blockchain.
>> doing that for a long time.
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