Morgan Stanley’s CEO announced plans for the bank to enter the cryptocurrency market, emphasizing the importance of regulatory approval. The bank has already made strides in the sector, being one of the first to offer Bitcoin custody services and investing $269 million in Bitcoin ETFs. Other major banks, like Bank of America, are also poised to expand into crypto transactions pending regulatory guidance.
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0 posts last weekJamie Dimon Expresses Concerns Over U S Stock Market Valuations
JPMorgan Chase CEO Jamie Dimon expressed concerns about the U.S. stock market, describing it as “kind of inflated” and indicating a more pessimistic outlook on the economy compared to his peers. He highlighted elevated asset values, geopolitical tensions, and government deficits as significant risks, advocating for pro-growth policies to address these challenges. Dimon noted that the current stock market is the most expensive in U.S. history, raising questions about sustainability amid potential economic surprises.
read moreGoldman Sachs CEO Says Bitcoin Is Not a Threat to US Dollar
Goldman Sachs CEO David Solomon stated that Bitcoin poses no threat to the U.S. dollar, describing it as a speculative asset. Despite Bitcoin reaching an all-time high near $109,000, he emphasized the dollar’s enduring strength. Goldman Sachs has significantly increased its Bitcoin ETF holdings, now totaling $710 million, reflecting a broader trend among banks investing in cryptocurrency.
read moreJamie Dimon warns of inflated U S stock market and global risks
Jamie Dimon, CEO of JPMorgan Chase, expressed concerns about the U.S. stock market being “kind of inflated,” citing risks from deficit spending, inflation, and geopolitical tensions. He noted that asset prices are among the highest in historical valuations and emphasized the need for strong economic outcomes to justify current prices. Dimon also highlighted his ongoing caution regarding global issues, including the Ukraine war and tensions with China, while supporting tariffs that enhance national security.
read moreGensler Discusses Crypto Influence in 2024 Presidential Election Outcome
Gary Gensler, the outgoing SEC Chair, stated that the 2024 presidential election was not influenced by crypto money, despite some fundraising from the sector. He emphasized the speculative nature of crypto and its non-compliance with laws, while the SEC has pursued enforcement actions against major firms like Coinbase and Ripple. As Gensler departs, Trump plans to nominate Paul Atkins as his successor, with ongoing legal challenges and appeals from crypto companies against SEC policies.
read moreSEC Chair Criticizes Media’s Focus on Crypto in CNBC Interview
SEC Chairman Gary Gensler expressed frustration with journalists’ focus on crypto during interviews, emphasizing the relatively small size of the crypto market compared to traditional capital markets. He highlighted the prevalence of scams and frauds in the crypto space and the SEC’s active enforcement actions against major crypto companies. Gensler also reiterated the SEC’s stance on crypto tokens as securities under the law.
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