JPMorgan CEO James Dimon Warms to Crypto

JPMorgan CEO James Dimon Warms to Crypto, Backs Stablecoins and Blockchain

Written by Aaron S.,

Editor-In-Chief

Last Updated: August 01, 2025

Key Takeaways

JPMorgan CEO Jamie Dimon now supports stablecoins and blockchain, though he remains cautious on crypto overall;
JPMorgan’s crypto involvement is driven by client demand, not internal enthusiasm, Dimon says;
Despite past criticism of Bitcoin, Dimon confirmed plans to test JPMorgan’s own stablecoin.

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Jamie Dimon, CEO of JPMorgan, has taken a more accepting view of digital assets, especially stablecoins and blockchain technology.

In an August 1 interview by CNBC, Dimon said he supports stablecoins and sees practical use in blockchain technology. While he has not fully embraced all aspects of crypto, his views have shifted from what they once were.

Dimon explained that the bank’s involvement with crypto is driven by what customers are asking for, not because of internal enthusiasm. He also pointed out that every new financial product comes with some level of risk.

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In 2024, Dimon called Bitcoin BTC $121,673.20 a "fraud" and said it made no sense to allow people to "invent a currency out of thin air". At that time, he also said he would fire any JPMorgan employee caught trading crypto.

He also compared Bitcoin to a "pet rock" and raised concerns about its use in criminal activity in 2018. While he admitted blockchain had possible benefits, he dismissed Bitcoin itself.

Despite Dimon's skepticism, JPMorgan has expanded its work in the crypto industry. On July 16, Dimon confirmed the bank was planning to test its own version of a stablecoin, known as a "deposit coin".

On July 30, JPMorgan teamed up with Coinbase $2.93B to make crypto more accessible to its customers. How? Read the full story.