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"The Banks Are Scared Of What's Coming With Crypto" | Kevin O'Leary
As it gains momentum and notoriety, itโs becoming more and more real that Blockchain technology is posing a serious threat to the traditional banking system, and they know it. Jamie Dimon, CEO of JP Morgan Chase Bank, has been one of the most anti-crypto voices and stated to law-makers during a congressional hearing that;
โThey are decentralized Ponzi schemes, and the notion thatโs good for anybody is unbelievable.โ
His recent comments are even more intense than his previous ones when he stated;
โI personally think that bitcoin is worthless but I donโt want to be a spokesperson โ I donโt care. It makes no difference to me.โ โOur clients are adults. They disagree. Thatโs what makes markets. So, if they want to have access to buy yourself bitcoin, we canโt custody it but we can give them legitimate, as clean as possible, access.โ
As a keynote speaker at Converge 2022, Crypto skeptic turned bull Kevin OโLeary set the record straight with a healthy disagreement to Dimonโs remark and calls out that the Banking system adds no value and they are scared for whatโs coming. OโLeary pointed out that regulation in stablecoins would save him millions of dollars in transfer fees within his businesses. OโLeary has been adamant about how regulation will push crypto forward, reiterating that once crypto gets regulated, the prices will go up 10% overnight. And once the regulation comes, OโLeary believes the banking industry is in real trouble.
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Watch the full unedited interview here โฌ [Credits] ๐
https://www.youtube.com/watch?v=iwD_zWgyUz8
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๐ตBACKGROUND MUSIC licensed through AudioJungle & Epidemic Sound
๐ฅFOOTAGE licensed through VideoBlocks and Filmpac, except parts about the topic that have been used under fair use.
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FAIR-USE COPYRIGHT DISCLAIMER
Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by the copyright statute that might otherwise be infringing.
