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Crypto proponents on X wasted no time pointing out the hypocrisy of JPMorgan CEO Jamie Dimon’s recent remarks about Bitcoin and crypto to the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
JPMorgan CEO Jamie Dimon is being hauled over the hot coals by the crypto community on X (formerly Twitter) after claiming Bitcoin (BTC) and cryptocurrency’s “only true use case” is to facilitate crime.
“The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Senate Committee on Banking, Housing, and Urban Affairs on Dec. 5. “If I were the government, I’d close it down.”
But crypto pundits quickly pointed out the hypocrisy in Dimon’s statements, highlighting that JPMorgan is the second-largest penalized bank, having paid $39.3 billion in fines across 272 violations since 2000, according to Good Jobs First’s violation tracker.
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