Tag Archives: jp morgan

Should bitcoin start resembling more the price performance as well as the investment structure of gold, its price could skyrocket to $45,000, according to a note by JPMorgan’s analysts. However, the multinational investment bank believes there’s a big catch. Bitcoin’s YTD performance has been rather impressive, as the asset entered 2023 at under $17,000 following a turbulent 2022. However, it broke above that level in the first few weeks of the new year and skyrocketed to...

JP Morgan is developing an artificial intelligence service similar to ChatGPT geared towards offering users investment advice. The software service, titled “IndexGPT,” will tap cloud computing software using AI to analyze and select securities based on its customers’ needs.  AI Investing With JP Morgan As reported by CNBC, JP Morgan applied to trademark a product under the new name this month, per a filing from the bank.  Other banks such as Goldman Sachs and Morgan Stanley...

First Republic became another American bank to fail this year as all attempts to resuscitate the ailing platform fell short. The California Department of Financial Protection and Innovation (DFPI) has now taken possession of the First Republic Bank. The Federal Deposit Insurance Corporation (FDIC) was appointed as the receiver by the Californian financial regulator and even JPMorgan’s bid for the bank’s assets. The financial services company, in a press release, confirmed the...

Economic, financial, and business analysts have been on the lookout for an imminent recession since late 2022. The only question in a field of certainty that a mild recession is looming is where? Jamie Dimon: Bank Failures Could Lead to Recession in 2023 Will the recession emerge from a financial crisis? Will oil or some other commodity trigger it? Could it start in housing as it did with the Great Recession? The critical weakness in banking that became evident to markets in...

David Kelly – Asset Management Chief Global Strategist for JP Morgan Chase – said it’s time for the Federal Reserve to quit hiking interest rates if it wants to keep the U.S. economy intact.  Having “won” its war against inflation, the analyst claimed that the central bank now risks tipping the economy into a recession.  Too Many Hikes In an interview with Bloomberg on Thursday, Kelly predicted that the Fed will continue raising interest rates beyond February, and into their...

Despite the massive bull market in 2020 and 2021, institutions have remained on the crypto sidelines and feel relieved about it. This is what a JPMorgan senior investment strategist argued recently, indicating that the interest in the asset class from such investors is “effectively nonexistent.” The most notable bull run in the cryptocurrency market started at the end of 2020 and lasted for about a year, seeing prices explode to new highs. Bitcoin, for one, went from under...

Dave Ripley – the incoming CEO of crypto exchange Kraken – said he has inside information that FTX scammed its users.  He expects more contagion from the crisis, assuring that his entity would not be affected. More Pain Coming In a recent interview for Bloomberg, Ripley described Sam Bankman-Fried (former CEO of the bankrupt platform FTX) as a “fraudster.” He also thinks it will take time for relevant watchdogs and the government to discover the reasons for the catastrophe...

On November 21, U.S. Patent and Trademark Attorney Michael Kondoudis announced that JP Morgan & Chase Co, the largest bank in the United States— and one of the largest financial companies in the world— registered a patent to venture into the Web3 with a digital crypto wallet. According to Kondoudis, the U.S. Patent and Trademark Office (USPTO) approved the application by JP Morgan & Chase Co.on November 15. The wallet will offer services like virtual currency transfer...

Polygon (MATIC) was among the best performers in the top 20 cryptocurrencies in the last 24 hours. The token gained nearly 17% and traded at $0.98 for the first time since mid-August.  Although its valuation has retraced to $0.95, here are three possible reasons behind MATIC’s impressive 17% increase.  MATICUSD. Source: TradingViewMeta Picks Polygon for NFT Minting On November 2, Ryan Wyatt, CEO of Polygon Studios, announced that Meta, the parent company of social media...

After getting the axe from America’s largest bank, the infamous rapper Kanye West may be gravitating towards Bitcoin.  The rapper has been spotted in multiple recent photos sporting a hat labeled “Satoshi Nakamoto” – the name of Bitcoin’s pseudonymous creator. Is Kanye a Bitcoiner? One of the photos was shared over social media on Sunday by Twitter user Quinten Francois. It shows West wearing a green jacket, rain boots, and the Satoshi hat, with a phone held to his face. Ye...