Good morning, and welcome to Protocol Fintech. This Tuesday: crypto aims to self-regulate, Jamie Dimon throws shade, and Tezos teams up with Manchester United.
Off the chain
I don’t get Jamie Dimon: The crypto-skeptic schtick (see today’s Overheard) was cute a couple of years ago, maybe, but it seems increasingly bizarre that JPMorgan Chase is releasing JPM Coin while its CEO badmouths bitcoin. Wealth managers are giving customers access to crypto funds which Dimon is telling them are worthless. Even if you agree with Dimon, the hypocrisy here is a problem. At some point, something has to give: Either Dimon’s not really running the company and the board should notice that fact, or JPMorgan Chase doesn’t believe in the products it’s selling. Or maybe all of the above.
— Owen Thomas (email | twitter)
Crypto cleans up its act
The crypto industry has wrestled with the reputation that it operates in a world of shady players. Now it wants the world to know that it’s going after the bad guys. Crypto’s biggest players, including Coinbase, Circle and Anchorage Digital, just launched the Crypto Market Integrity Coalition, which is taking aim at “manipulation and abuse.”
The timing makes sense, given the drumbeat of news about hacks and scams, but it’s also bound to raise eyebrows.
It’s an about-face on the idea that crypto facilitates crime. For years, crypto companies have…
