JP

beRsCH

Syz Bank, JP Morgan, Arab Bank, tons of banks allow for crypto cash out as long as you can document how you made your money.

AssociationMission38

>the wealthy definitely own it. It sure ain't the poor!😅. The poor and the rich "own" it. Its a state agency. Its profits go to the treasury. >It is an independent central bank that operates within the U.S. government but is not directly controlled by it. The 12 regional bank are owned by its PRIVATE member banks (JP Morgan Chase, Bank of America. Goldman Sachs etc.) It is independent in its decision making from the US government, which is something that developed over time. And yes the regional banks are "owned" by private banks, thats how the system is set up to include private banks. The private banks however dont control the FEDs actions. They play a role in it but at the end of the day the people who decide about monetary policy are govermemt appointees. So its very disingenuous to act like the Federal Reserve is privately owned if you ask me, there is truth to it, but it doesnt mean that the facts is controlled by private banks and they interests, thats simply not true. >This is why the wealthy like inflation, and intentionally dont explain it correctly to the poor. Deflate the currency (which they have the most of), allow the government to run up massive debts (since they dont need to pay it, cause they can just print more money), and as the currency inflates, hard assets go up (which they own the most of). As i said above its not about what the rich like, again this is just conspiracy theory nonsense, black and white, us vs them. Other central banks that are also institutional independent from private banks like the ECB also target low and steady inflation, without private banks in the mix. The primary reason is because it makes it easier for them to fight deflationary pressures in a crisis. Most central banks are their to stabilize they economy and financial system and to ensure price stability (perfect price stability, as in 0% inflation, isnt possible to achieve in the real world though, and a low and stable inflation target like 2% is simply the result of wheighing pros and cons. There are pros and cons to target 0%, low and stable deflation and low and stable inflation). Governments cant just print themselves out of their debt. In theory they can, in reality this leads to hyperinflation and a loss of trust in the system. Also in most countries, like in the US the government cant just decide to print money, monetary is done by the central bank and they are designed to be independent from the goverment precisely to ensure that this wont happen and to foster trust in the system. And the Federal Reserve is one of, if not the most, trusted central banks in the world. Thats one of the reasons why the Dollar is so important around the world. Because the Fed is pretty good at managing it. And again, thats good for the poor as well, its good for the economy and yes its ofc also good for the rich. There is a lot of stuff that could be changed and critizesed though. But is Bitcoin actually a solution to it? I very much doubt it. >They also printed more money when the world wanted to go to total war twice Countries that go to war will usually use every tool available to them, yes. Guess what they do when they have a gold standard and war starts to demand more investment? They just leave gold behind and issue new money, happens all the time. So i dont think central banks are to blame for these wars, it just shows you that fiat money managed by central banks is a great way to control and stear an ecnomoy. But these are the usual narratives that you find in Bitcoin / Goldbug and libertarian circles, they are old and as i said before they are highly reductive. The underlying narratives are always the same. Inflation and debt is out if hand - > the financial system will collapse in the near future - > buy Bitcoin/Gold to protect yourself against it Goverment in and of itself is bad - > goverment control of the currency is therefore inherently bad - > we need to decrease the governments scope for action - > we need hard money / a gold standard / Bitcoin something to shakle the government with >The argument is real. Inflation devalues currency. So people have to speculate in stocks, real estate, etc to maintain purchasing power. Yes, they do. But the alternative actually better? And more importantly what are the possible alternatives? And is this a problem we need to solve through monetary policy or is it something we could solve differently and keep the positive effects of the inflation target? Is also see this problem, but i dont see it as a particularly big problem. You can invest your money and beat inflation quite easily and quite safely. Many people do so. >Get a list of all your doubts/concerns, and try to prove them wrong As i said before i already did this for Bitcoin. A monetary system based on Bitcoin is inferior in my opinion to the current one, the primary problem is the fixed supply. When it comes to Bitcoin as an investment, its to risky for me. I am simply to risk averse to invest in it. And i dont see a reason to invest in it as i can just invest in an etf and beat inflation this way.

Smoking-Coyote06

I'm enjoying this convo BTW. Long reply to a long reply: >First of all the wealthy dont own the central banks. Speaking for the Federal Reserve, (since I'm American) the wealthy definitely own it. It sure ain't the poor!😅. Despite the name, The Fed, is neither Federal, nor do they have any reserves. It is an independent central bank that operates within the U.S. government but is not directly controlled by it. The 12 regional bank are owned by its PRIVATE member banks (JP Morgan Chase, Bank of America. Goldman Sachs etc.) So the next question is, who owns those member banks? Wealthy people. The top 10% of U.S. households by wealth own ~89% of all stocks. Within that, the top 1% alone own over 50% of all equities, including banks. These are just facts. This is why the wealthy like inflation, and intentionally dont explain it correctly to the poor. Deflate the currency (which they have the most of), allow the government to run up massive debts (since they dont need to pay it, cause they can just print more money), and as the currency inflates, hard assets go up (which they own the most of). This may sound conspiratorial but again, it's just facts. I can see the value of having a central bank in case of major financial disasters, but it's a double edged sword. They also printed more money when the world wanted to go to total war twice in the 20th century...not to mention the US going to town on Iraq (2x), Afghanistan, damn near every country in central/south America, and of course Vietnam (which pushed Nixon to close the gold windows. >Your argument is a common one in Bitcoin circles and is one that i would call a conspiracy theory quite frankly. The argument is real. Inflation devalues currency. So people have to speculate in stocks, real estate, etc to maintain purchasing power. But if the wealthy own 89% of the stocks...For the record I do love a good conspiracy theory but only the true ones. >Supply and demand dont ensure Bitcoin will outperform other assets in the future, neither does its track record of the past 15 years. Thats my point, just because Bitcoin has a fixed supply doesnt mean it will grow in value and certainly not that it will outperform other assets. Correct. The past performance DOES NOT GUARANTEE (100%) that btc will duplicate its track record for the last 15 years. I'm not giving a 100% guarantee, because nothing is promised. What I am saying that it's natural for humans to want to save their value in the best store of value. The best store of value (measured in percentage gain)over the last 15 years has been btc. Just a fact. Will it continue to outpace every other major asset in the world over the next 15 years? I can't say 100% that it will, but based on on its past performance, it's current fundamentals, and the current global macroeconomic situation, I think btc will continue to out perform. >There are a bunch of other assets with fixed supply out there, Like what? Real estate is definitely not fixed. I'm not sure where you live, but I see new houses, and buildings under construction every day. Towns grow outwards, turn into cities, suburbs get connected and turn into a metropolis. If the city is superspecial they build skyscrapers and stack real estate on top of each other. If there value in the area but the need the land, they drain the area like the Netherlands, or build islands like have in Dubai. People have a VERY hard time understanding a finite supply. Limited supply and finite are similar, but not the same. There are only 21 million btc. Don't matter if you really want one, you can't just make one like you build a house in the suburbs. >Bitcoin doesnt have superior monetary properties Yeah it does. These are the properties below: Scarcity Divisibility Portability Durability Verifiability Fungibility Gold has better durability since it's been around for thousands of years, but other than that, btc is a better form of money because it wins the others with the advantage of being digital. It's not the best form of currency at the moment because it's still rapidly appreciating since it's a novel asset. I'm telling you man. Get a list of all your doubts/concerns, and try to prove them wrong. If you go deep enough, you'll find an answer to every concern you have. But if you want to be dogmatically opposed just because...that's fine too. If you want any info, let me know!

Free_Entrance_6626

If you read The Creature from Jekyll Island, which Michael Saylor has also read, you will realize that the cartoon character on that image is a depiction of JP Morgan, one of the founders of the Federal Reserve

alextop30

Well now gold is very heavily manipulated by the evil squid JP Morgan and Jamie Diamond in the rough, so the numbers are likely way way way off for gold and silver. So basically you really don't know how much gold we actually have but we can keep mining more which is where the inflation is built right in just like with fiat.

KeySpecialist9139

There are quite a few use case scenarios that didn't work out. I can list them from the top of my head actually, since I work in this field: Maersk, German stock exchange, JP Morgan, Kodak, Sidney stock exchange and list pribably goes on. The cost/effectiveness ratio for blockchain is not that good. Simple SQL or DLT just works better. Fact-check me if you want. 😉

_etherium

This shows Ripple Inc.'s desperation because stablecoins are coming soon from JP Morgan Chase, Goldman Sachs, and Bank of America. These mega wall st banks have huge brand recognition and reach.

68dot164dot57dot219

your idea can potentially work in illiquid markets and is a type of market manipulation but one key aspect people who discuss hypothetical short seller manipulation is they always leave out the part where they need to buy back their short to close it out! every once in while some “geniuses” come along and attempt such game, actually some JP Morgan derivative traders have tried such in Gold, not only does it often blow up in their faces, but remember the minute ANYONE else with LARGER pockets than you learns of your attempt, you are done, you will lose all of it. That’s the short squeeze! and that one works really well, like really well, because the limitless risk of a short position is asymmetrical and means limitless losses, meaning all your collateral. re sha256 you seem to not really understand the role it plays. I’ll repeat. Your comment makes much more sense in the context of elliptic curve cryptography not sha256. And yes the Bitcoin network burns energy that is intentional and a feature, it’s also heating swimming pools, growing food and flowers, and numerous other waste heat applications, even home water heaters. Bitcoin LN already delivers immediate and extremely cheap micro transactions using Bitcoin. It works perfectly, I’m using it and paying for good and service on it, and deposits to CEXs. Not only that but with Bitcoin funded debit cards you can live entirely from Bitcoin self custody wallet and only fund your cards or fiat accounts on an as needed basis. This will also become unnecessary in the next 10 years when LN and other L2 open payment networks roll out with POS support. Square and other Block products are already available. Lastly. hedera is pointless. nobody needs or wants a KYC or AML. this is silly.

petragta

JP Morgan

PM_ME_UR_AMOUR

They e literally got a document saying they will cut in June but given what’s happening, who knows. Whatever is happening it seems like JP is sticking to his guns.

Numerous_Ruin_4947

>If US markets will crash from JPs removal  Then the entire market depended on JP, making him a single-point of failure.

SnooRabbits4992

Yes if the fed does it without interference from Trump. But if he fires JP this is huge.

ly5ergic

It's literally referred to as the risk free rate. The government would need to fail, that's the risk so it's generally not considered. Did people lose their bank deposits in 2008? No. Did just about everything else go go down or closed? Yes. Man watch out for those high government insurance bank accounts. Super risky. What should I go hide cash under the mattress? Is that what you consider safe? If the government and banks fail the cash would be useless too. Or are you one of those only gold and crypto is safe? A hedge fund that buys treasuries and gets a 1-4% return. Then, the fund gets its fees. Yeah, a huge market for that. Wow, I should start that. I'll be raking in the money with that genius plan. Though I have to tell you I'm already VP at JP Morgan. It isn't some secret money trick; most people who aren't idiots keep their money earning at least the fed rate / treasuries. Buffet's hundreds of billions cash pile is mostly in treasuries. Hedge funds do, too, when they move to cash. Everyone doesn't do it all the time because the stock market has better returns. People also have different strategies, risk tolerance, and timelines. Also, when interest rates are low like they were before COVID, it's way worse return than the market. It got down to under 1% There is always a risk reward spectrum. Saying why isn't everyone in treasuries is like saying why wasn't everyone 100% in Nvidia. Wow, maybe I should have made a fund that just buys Nvidia.

icedlemin

Why does he want to remove JP?

faithOver

Apocalyptic? The opposite. Trump wants to fire JP because Trump wants ZIRP back. ZIRP is bullish AF for Bitcoin.

MichaelAischmann

Firing JP will not change Bitcoin. If his dismissal increases financial instability prompting interventions, what would it mean? Printer go brrr is the intervention. HODL your Bitcoin.

L1FE8EZCHINUP

I’ll tell you this. All the big rich guys are putting money in ETH. Eventually this will 3x 4x what it is now. Even the Man of the county has this in his wallet.. ETH is the gas fee used to transfer any funds. And when you see the company’s like BlackRock and JP Morgan buying up as many as they can you know something huge is going to be of it. So 1500 which is almost the exact price of 1 ETH atm. To have that 3x 4x is a good return. I really don’t see it going any lower because it’s such an important tool to have in crypto. Or Solona is a good one too it’s cheaper and will be the next ETH. Hope this helps and good luck!

biba8163

Tokenization is not Decentralized Finance. > jp morgan JP Morgan is settling $10 Trillion every day in their own proprietary blockchain > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviously central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video > Blackrock Bullshit scam narrative. Stablecoin usage and putting some treasuries for niche use cases on public blockchains for which have to remain cheap to compete with each other isn't going to push a shitcoin token's price up. Blackrock BUIDL is now on multiple shitcoin networks including Aptos, Arbitrum, Avalanche, Optimism and Polygon. Educate yourself. - Stablecoins which make up 97% of RWA have gone up 120% in marketcap while ETH has gone down -70% since 2021. - Since March 2024, ETH scammers started shilling BlackRock BUIDL, Soneium, RWA memes and ETH is down -60% since then. https://np.reddit.com/r/CryptoCurrency/comments/1bkm1u1/blackrock_unveils_crypto_fund_first_with_5/

satoshiwife

Tbh it wouldn't make much of a difference, give JP 10 more years and that robot will still say the same script "we understand your pain, our decision effects all of you, but wE nEeD mOrE dAtA" the same shit he's been saying for last 4 years

coinfeeds-bot

tldr; JP Morgan reports that gold remains the preferred safe-haven asset amid market volatility caused by geopolitical uncertainty and President Trump's trade policies. Gold ETFs and futures have seen increased investment, with gold prices hitting new highs. Bitcoin, often dubbed 'digital gold,' has failed to attract similar safe-haven flows and has been trading sideways, correlating more with U.S. equities. Investors have shifted away from Bitcoin ETFs, favoring gold as a more stable option during economic uncertainty. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

NervousClick7033

JP said good afternoon

NervousClick7033

When is JP talking today?

alsoilikebeer

How many predictions JP Morgan have? A ton. They employ 320 000 people.

user_name_checks_out

> JP Morgans carry signficant weight How many of them are there?

alsoilikebeer

Anyone who cares to follow money markeds should care. This subreddit has a lot of spam and crappy charts, this is much more relevant than most of it. And while predictions vary greatly, JP Morgans carry signficant weight and is a major part of market sentiment.

GrandWazoo0

No one cares about JP Morgan, but Trump wants rate cuts, so there is a decent chance they are right here. Now, whether rate cuts are a good idea is another question entirely…

djs1980

Who cares about JP Morgan. Most of the time they're just trying to fiddle the markets. Drown out this noise.

coinfeeds-bot

tldr; Blockchain intelligence platform Lookonchain reports that $227 million worth of Mantra (OM) tokens were moved to exchanges like OKX and Binance before a 90% price collapse. The sudden drop saw OM's value plummet from $6.35 to $0.37, with its market cap falling from $6.11 billion to $683.3 million. Laser Digital, a strategic investor, denies involvement, while Mantra CEO JP Mullin blames exchanges for closing large positions during low-liquidity hours. OM is now trading at $0.595, down 32.5% in a day. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

reed5point0

in about nine days if JP (OM founder) was correct and they are still able to sell for a profit...RIP

reed5point0

The token crashed so hard b/c most of the early investors and a very large amount of the supply is locked early investments. SO it currently has a very propped up supply. which caused it to rise so well. Just look at what JP did by pumping the Onchain OMIES NFT too on Stargaze, you better believe that's why OM was $7 tactics wise too. BUT are going to be able to sell their early token investments in the coming days. When they bought early they were "vested" or "locked" investments.

yell0w8

JP Mullin talking about buyback and burn

coinfeeds-bot

tldr; Mantra's OM token rebounded nearly 200% after a 90% crash, following allegations of a rug pull scam. Co-founder JP Mullin denied the claims, attributing the crash to forced closures by centralized exchanges. Despite the recovery, skepticism remains due to the project's tokenomics changes and parallels to Terra's LUNA collapse. Analysts warn of potential further declines, with OM's structure resembling a bull trap. OKX CEO labeled the situation a 'big scandal,' and further reports are expected. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Mantra (OM) experienced a dramatic 90% price crash within an hour, dropping from over $6 to below $1, with liquidations exceeding $70 million. CEO JP Mullin attributed the crash to 'reckless forced closures' initiated by centralized exchanges on OM account holders without sufficient warning. The incident highlights vulnerabilities in centralized exchange practices and has sparked community support for the protocol during this challenging period. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

CriticalCobraz

The price of the Mantra token (OM) has dropped by over 90% in 24 hours, with its market cap shedding over $5.5 billion. The collapse has been described as a potential "rug pull" by some traders, but the exact reason is unclear. The Mantra team claims that the price implosion was triggered by reckless liquidations and not by any actions taken by the team. **Key Points:** * OM token price fell from $6.3 to below $0.50 in 24 hours * Market cap shed over $5.5 billion * Mantra team claims price implosion was triggered by reckless liquidations * Team's tokens are still in their custody, according to co-founder JP Mullin

Zombie4141

Unfortunately this is the truth. Much like Jamie Dimon, in 2017. When he said bitcoin is a scam and anybody that works for him who is caught buying bitcoin will be fired. Well Bitcoin dropped about 30% when he said that and at the bottom JP Morgan made about 10 really large Bitcoin purchases. These fuckers know how to manipulate the market to get paper hands to liquidate their stacks. And our government will never, ever, ever, ever uphold the law and take these douche bags down or hold them accountable for anything.

MischievousMittens

I see someone is interested in being nominated as JP’s replacement

gohblu

First of all, as a Canadian, you probably don’t realize that we already have far less of a social safety net than you guys do. Second, notice that you make a lot of statements that aren’t supported by data, which is a common characteristic of conservatives in general. You say that there are leaches abusing the system? Ok, quantify that for me so I can understand if it is a real problem. Countries have been tariffing the “shit” out of the United States for years? OK, show me what you are talking about since the last data I saw from JP Morgan said the global tariff rate was down to about 2% on average just prior to April 2nd.

Swanky_Gear_Snob

Gold and silver are literally invaluable in manufacturing. They are used in every single piece of electronics. In fact, silver should be MUCH more expensive. Historically, the silver to hold ratio was 100:1. It was like that for nearly 5,000 years. However, after it started getting traded as an ETF with futures, it started being manipulated down. Bear Sterns held a MASSIVE short position that squeezed the price of silver lower for nearly 20 years. When the bank failed in 08, JP Morgan took over the short position. They still have it to thos day. The price of silver would skyrocket if the institutional shorts were to ever unwind. That's why the bankers didn't allow it to happen. Less silver has been pulled out of the earth each year for the past 15ish years as well. There is real scarcity because it is used for so many things. This is just one of many examples of asset price manipulation on a global scale.

tzacPACO

May JP hear you

rundown03

Tell that to blackrock and JP morgan running everything on Eth.

prestolive

is JP Morgan saying bitcoin is gonna fall to 10 K just so everybody sells?

StressWitty8792

This guy probably works for wells fargo or JP morgan 🤣🤓🧐

Terrible-Estate5965

Stay strong it will bounce higher than ever, I never sold BTC when it tanked and it rebounded twice as high from the last big down cycle. This is good for the next high. This is how it works. Trust the Black Rocks, JP Morgan and the Big wigs they’re not in it to lose money don’t go by the weak hands They don’t have the stomach to be in the market in the first place. They don’t even understand risk and reward.. All the negative comments about bitcoin going way way down are the ones that shorted it and try to manipulate it to go down because they can jump back in. I’ve seen this over and over again. Good luck

n1247

Can JP and fed do anything? I thought they had to wait until May?

Due-Inspection-5660

JP Morgan have just now called on the Fed to hold an emergency meeting to cut interest rates aggressively (before the May FOMC meeting.)

9999999910

Blackrock vs JP? I’m on team Blackrock.

NervousClick7033

JP said “President Donald Trump’s new tariffs are “larger than expected” and the economic fallout including higher inflation and slower growth likely will be as well”. How does this affect crypto in short term?

MedellinCapital

JP said Bitcoin is the new gold. Thus BTC backed reserve currency. But we can’t have huge trade deficits or we will run out of BTC.

satoshiwife

Let the recession come then, JP will finally begin QE. It might take much longer time for the economy to adjust but the market will recover quickly.

coinfeeds-bot

tldr; New research reveals that $38 trillion in assets at the 10 largest US brokerages are restricted from bitcoin (BTC)-related investments, despite the growing presence of BTC spot ETFs. Firms like UBS, JP Morgan, and Goldman Sachs prohibit advisors from recommending BTC, while only Fidelity, Schwab, and Wells Fargo allow unrestricted BTC investments. Many retirement accounts and brokerage strategies also exclude BTC, highlighting its limited accessibility in traditional financial systems. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

No-Enthusiasm9274

I'll do you one better, do you know how the Federal Reserve was created? The reaction I get to telling people how the Federal Reserve was created is always people telling me I'm a conspiracy theorist. like no, It genuinely was conceived of by Robber Barons on Jekyll island in a secret meeting, and the bill was passed on December 23rd, 1913 when most of congress was away for Christmas. It's not a conspiracy theory, it's legitimately a conspiracy. As in, the Vanderbilt, Rockefellers and JP Morgan literally conspired to create the Federal Reserve.

IcyDragonFire

As a very simplistic method, we can compare tvl (including stables) to mcap between Ethereum and JP Morgan Chase:    Ethereum: $170b tvl vs $226b mcap. TVL/mcap = 0.75.   JPC: $4T tvl vs $600b mcap. TVL/mcap = 6.67.   So even if you slash ETH valuation be a factor of 9, to match jcp's ratio, we're still at $200.   We have to consider also that ETH's mcap doesn't include l2s, and that it has much more potential for growth compared to JPC.    Also, it enables much more that JCP ever did or will.   To summarize, I think $100 is completely unrealistic. Furthermore, I believe the current price is a good buying opportunity, given the network's potential.

EDWARD_SN0WDEN

if everyone buys 1oz of physical silver we can blow up JP Morgan and their fraud

biba8163

> Have you visited ripple’s website? If you are new, you should visit this spreadsheet with a list of Ripple partnerships that XRP investors maintained and kept pointing me to in 2017 and 2018 telling me that all these major banks are going to be soon using XRP. That XRP will be soon be Standard settlement asset for global money movement and the Internet of Value. It's been over 10+ years of fictional use cases and hype and every one of these partnerships, tests and pilots and nothing more has materialized out of them. | Financial Instituition | Testing/Pilot | Today | |:-----------|------------:|:------------:| | Royal Bank of Scotland | 2015 | It was bullshit | J.P Morgan | 2016 | It was bullshit | Bank of America | 2016 | It was bullshit | Barclays | 2016 | It was bullshit | Santander | 2016 | It was bullshit | HSBC | 2016 | It was bullshit | Credit Suisse | 2016 | It was bullshit | Royal Bank of Canada (RBC) | 2016 | It was bullshit | American Express | 2016 | It was bullshit | Nordea | 2016 | It was bullshit | Bank of England | 2017 | It was bullshit | PNC | 2016 | It was bullshit | MoneyGram | 2018 | Paid Partnership https://docs.google.com/spreadsheets/d/1E1AcLBd_ykemoDAPwZsbl5f2wyrS7RhlAt94CrHXTAg/htmlview#gid=1168577263 On the other hand, I can point you to source after source from major banks like JP Morgan who developed their own stablecoins and stablecoin networks, working with partner banks moving trillions of dollars around the world every day. > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviosly central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video

biba8163

Banks, Money Transfer companies and Financial Instituitions have stated over and over again that they cannot use shitcoins like XRP, XLM, etc which have been scamming gullible crypto investors as money transfer solutions for banks and financial institutions: Here is JP Morgan on the how Stablecoins and CBDCs are unlocking billions in value in global money transfers but shitcoins like XRP aren't used: - High volatility of XRP leading to limited willingness from banks in using it to facilitate payments - Relatively high costs owing to spreads between fiat and XRP https://www.jpmorgan.com/onyx/documents/mCBDCs-Unlocking-120-billion-value-in-cross-border-payments.pdf?trk=article-ssr-frontend-pulse_little-text-block Even Ripple has said Stablecoins are the future for *"efficiently transfer value across borders"* and they are launching their own Stablecoin: > Stablecoins like USDC offer a revolutionary pivot... efficiently transfer value across borders, bypassing traditional banking systems and eliminating many associated risks....Lower transaction costs compared to traditional banking. As low-fee alternatives to traditional money transfer methods, stablecoins can facilitate global transfers without foreign exchange fees. As the integration of stablecoins into the banking system continues, they promise to reshape the financial world, offering enhanced efficiency, inclusivity and innovation. This evolution is not just about adopting new technologies but is a step towards a more interconnected and resilient global financial system. https://ripple.com/reports/the-functional-evolution-of-digital-assets.pdf Not only are banks using Stablecoins but banking giants like JP Morgan, Mitsubishi UFJ Financial Group , etc have their own blockchain networks, coins, tokenized assets. The idea that banks and financial institutions are all going to be using XRP or XLM is a scam hype narrative to dump useless tokens on gullible crypto investors: - JPM Coin from banking giant JP Morgan is a bank coin. (Note, JPMorgan has rebranded JPM Coin to Kinexys Digital Payments) - Progmat Coin from Japanese giant Mitsubishi UFJ Financial Group is a bank coin. You will hear bankers talking about banking coins, their permissioned institution-to-institution networks that create deep liquidity pools for moving money world wide. You will never hear these big banks working with Ripple to use XRP. > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviosly central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video > Last year, MAS launched the Global Layer One (GL1) initiative to foster the development of a public permissioned foundational digital infrastructure, upon which commercial networks could be deployed creating an open, digital infrastructure enabling cross border transactions and global liquidity pools. Since the launch, MAS and a core group of global banks, namely BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE, have been leading efforts to define the business, governance, risk, legal and technology requirements of the GL1 Platform. > The Kinexys Digital Payments removes traditional treasury friction points and is ideal for managing real-time liquidity through cross-border payments beyond currency cut-off or non-banking hours, such as on banking holidays and weekends. https://developer.payments.jpmorgan.com/docs/treasury/global-payments/capabilities/global-payments-2/jpm-coin-system > Mastercard (MA) has connected its blockchain-based system for shifting tokenized assets, the Multi-Token Network (MTN), with JPMorgan’s (JPM) recently rebranded digital assets business Kinexys https://www.coindesk.com/business/2024/11/21/mastercard-and-jpmorgan-link-up-to-bring-foreign-exchange-on-the-blockchain

ryan69plank

two reasons, GOLD is at all time highs and preforming so BTC is holding fast with gold. if gold was to fall back too $2,500 I think you would see BTC fall under 60k. second reason is QE is about to launch and we're in a rate cutting cycle now where BTC must increase against M2 money supply. If the FED was still in a rate lifting cycle then BTC would be falling alot harder into the 70k or lower regions. There is mainly just not enough supply right now for the multiple large players on wall street like Blackrock and micro strategy also they passed new regulation allowing banks to hold spot BTC so JP, Morgan Stanly, HSBC, and other European banks are looking to the OTC markets right now to get their slice of the pie. Yes they want to crash the price of BTC so they can load up take custody off Retail and price is going to push up when OTC supply dries out and they have to buy off exchanges. that will likely come over the next few years. in the short term we have to get through this stock market correction and also a USA recession, I don't know how long the recession will last because they really need to increase wages for people in this adjusted Inflationary environment, only way to do that is to drop business loans back under 4% so business can borrow more money and pay employees higher wages. couple unknowns are the AI offset of jobs how many jobs will be lost vs new people being employed.... 2026 could be an interesting year but I think before EOY this year BTC is likely to Bottom out my pick would be July it bottoms, it might slip more depending on economic recession data later around September so will see, I am however thinking of taking my first DCA trade into IBIT in early July then Taking a secondary DCA trade into IBIT in September, I will then take a 3rd either around late November or January to February in 2026 after economic assessment. BTC has one direction over the next 5 years which is up. but in the short term right now it's likely to fall lower. if your at a loss right now check back on BTC mid 2026, and plan to buy in September this year to lower your average.

perth_girl-V

While a definite prediction is impossible, the chances of a US recession by June 2025 are increasingly viewed as likely, with some economists estimating a 35-50% probability, driven by concerns over tariffs and economic slowdown. Here's a more detailed breakdown: Rising Recession Risk: Economic analysts and major US banks have raised their recession probabilities in recent weeks, citing factors like tariffs and concerns about economic growth. Specific Estimates: JP Morgan reports a 40% chance of recession. Mark Zandi, chief economist at Moody's Analytics, upped the odds from 15% to 35%, citing tariffs. Deutsche Bank survey finds the probability of a downturn in growth over the next 12 months is about 43%. CNBC CFO Council Survey shows that a majority of chief financial officers anticipate a recession in the second half of 2025. Factors Influencing the Outlook: Tariffs: Concerns about new tariffs on imports, particularly those introduced by President Trump, are a major driver of the pessimistic outlook. Economic Slowdown: There are growing concerns about a slowdown in economic growth, with some analysts predicting a contraction in the first quarter. Uncertainty: The overall economic outlook is marked by uncertainty, with both consumers and businesses expressing increasing concerns about a slowdown or recession. Federal Reserve Actions: The Federal Reserve's actions, including potential interest rate hikes, could also play a role in shaping the economic landscape. What to Watch: Economic Data: Keep an eye on key economic indicators like GDP growth, inflation, and unemployment rates. Market Reactions: Monitor the stock market and other financial markets for signs of further turmoil. Policy Decisions: Pay attention to any changes in government policies, particularly those related to trade and economic stimulus.

yakefomo

Not Goldman. Not JP Morgan. But Chipper. Chipper makes you happy.

East-Caterpillar-895

Hey let's go ask a bunch of idiots that don't know anything about bitcoin other that what we've told them (ie: cRiMiNAlS DrUgZ) then have them regurgitate our shilled claims back to us. It's used by criminals alright... Larry Fink of Blackrock: 47 billion dollars in BTC. Jamie Dimon of JP Morgan Chase said it himself, it's a pet rock. Then immediately back slides and funnels money into bitcoin as it "crashes" from the sentiment you just created about criminals and useless rat poison.

SC2000c

Eth became corrupt as soon as it sold out consensys to JP Morgan . Opposite of what decentralisation means. High fees because of it. They fucked up so bad. It won’t recover.

ThaSamuraiy

Think only coinbase is offering loans against your BTC at the moment. Think BAC, JP Morgan got something cooking though.

jlittle984

Dude is a master at playing the game of financial engineering. Sometimes you gotta pay a fine or two as you refine your knowledge and techniques-it’s a game many play. I think JP Morgan/Chase pays millions every year in fines for questionable activity.

SuccessfulSink812

Market Manipulation. Blackrock? Rothschild? JP Morgan? Warren Buffet?

0o0o0o0o0o0z

> Ok but lets be honest, it has to be 99% institutions I am not sure TBH, there is probably some site that kinda breaks down ownership, but sure. The BlackRocks and JP Morgans, etc... have the customer bandwidth and liquidity to do just that, what it shakes out to be I am not sure. When I worry about BTC, all the miners get gobbled up by a few companies or nations.

JerryLeeDog

FedWatchTool @ 97% still for rates staying the same, which I think is a huge mistake, but that doesn't mean JP won't talk about a pivot to QE If this is hawkish NYSE is dead short term haha

BanzaiKen

JP Morgan was a couple weeks ago, appeared in RH Gold newsfeed. Arthur Hayes was like all the way back in Jan on his Twitter.

BanzaiKen

Jeff Hirsch, he does almanac investing. Also JP Morgan. Their bull calls havent paid off (ETH super run lol) but their bear calls are spot on.

DoAlity

I hope this clarifies how xrp works: Let’s say $100 billion needs to be moved by banks through the use of xrp. There are 100 billion tokens. That means at $1 they would need to use all 100 billion tokens in existence. Let’s say we factor in available tokens of the circulating supply (not held by retail, banks, institutions, etfs, etps, and ripple etc) now we get a much smaller number. Let’s say 50 billion circ supply goes down to 30 billion. Now that $1 xrp is now $3. Now let’s say banks are moving on the ledger what swift moves in a day which is $5 trillion. This is the milestone many in the community look towards. That $3 token is now $133 JP Morgan facilitates $10 trillion worth of payments per day. Their MC is not $10 trillion. If a token were used to facilitate these payments, and there were 50 billion of these tokens available how much would that token need to be worth to move that amount of money? $200. What about 40B tokens, 30B, 25B, you get the idea. Banks won’t sell any tokens being used for payments, just to buy them back again for payments. So those tokens are just being circulated within the ecosystem, forever shrinking due to burning. The top 5 banks in the US move approx $40T a day. That’s just the US. $50T @ 25B available tokens is $2k a token I am not saying xrp will be at a circulating supply of 25B and will be moving $50T. This is just easy numbers to explain the mechanics of how xrp can scale to large amounts in order to move money around the world. I think the next two years will be very interesting in the utility space, with the big winners being xrp as well as a handful of others that offer true utility and value. We have never had price action due to utility and not trading volume, but I believe it will shatter most of the current thoughts on crypto, and the role of MC and supply RWA tokenization is a whole nother beast, and is over $2 quadrillion, which the XRPL is expected to gain a market share of. That’s probably better left for another post. Best of luck. While the arithmetic is interesting, it relies on some assumptions that may not hold in practice. For example, dividing total daily transaction volume by circulating supply presumes each XRP token is used only once per day, which doesn’t account for the token’s velocity in real-world transactions. Also, market prices are driven by a combination of demand, investor sentiment, and broader economic conditions, not just a simple ratio of total value moved to available tokens. Alot of people try to act like XRP is pure utility, but 99% of the people that ponder this are speculating. Reaching an absurdly high price (enough to make smaller investors rich) would require market dynamics that are much more complex than what the description above is suggesting. Hope this helps!

BanzaiKen

What strikes me as odd is the quants nerds called this back in Jan that March would see a big fall and then a massive bounce back April-May to a collapse in June and deadcat in October. I used to treat them like stock analysts but the crypto dudes at JP Morgan and Arthur Hayes is right. I wonder if his second prediction that BTC will blast to $200k+ will come true.

Hodler_caved

Yup. He gets the vast majority of the blame for inflation. Biden gets a bit for that outrageously dumb 3rd stimulus (job openings ath & vaccine available for all who wanted it). Since then JP has been great though.

satoshiwife

If JP once again says "economy is pretty strong" we are literally fked

NervousClick7033

Is JP talking yet?

This_Red_Apple

Lol I remember when JP Morgan gave it a fair value of around $2000 and this sub scoffed with indignation

freakythrowaway79

Giving out sub prime mortgages like you've never seen. 🤪 Yeah, I was just a kid in my 20s. I loved that job, I didn't work in the mortgage side of things. Credit cards was my gig. After JP Morgan bought us out, I gave them the🖕🏻 & took my 10yr severance. Wild times back then. It's way worse now I think tho.

jawni

confirmed: Saylor (Strategy Founder) David Bailey (CEO Bitcoin Magazine) Matt Huang (Co-founder Paradigm) JP Richardson (CEO Exodus) Kyle Samani (managing partner Multicoin Cap) Zack Witkoff (Co-founder World Liberty) Sergey Nazarov (Co-founder Chainlink) Brian Armstrong (CEO Coinbase) Vlad Tenev (CEO Robinhood) Arjun Sethi (CEO Kraken) Brad Garlicbread (CEO Ripple) Bo Hines (exec dir. pres. council digital assets) David Sacks (AI and Crypto Czar, also an investor in Multicoin Cap) Mark Uyeda (acting SEC chair) Caroline Pham (acting CFTC chair) unconfirmed: Cathie Wood (ARK founder/CEO) Vitalik Buterin (some scrawny Canadian) Jeremy Allaire (Circle co-founder/CEO) Paolo Ardoino (CEO Tether) Charles Hoskinson (Founder Cardano) Anatoly Yakavenko (co-founder Solana) Marc Andreessen (A16Z co-founder/general partner) Howard Lutnick (Commerce Secretary) Scott Bessent (Treasury Secretary) Pam BNondi (US Attorney General)

ptrnyc

As much as I'd love to borrow against BTC, I can't trust the likes of JP Morgan Chase - they'll be too happy to manipulate the price to liquidate you.

J_Schnetz

JP Morgan and blackrock amongst others have plans to update their foreign exchange platform to include ISO 20022 which XRP is tailor made for. Transactions can happen immediately and without high energy costs or transaction fees. this allows for less work with the banking system and theyre able to save more money it also degrades with each use so its value can't lower via inflation i could keep going but its just not even close to a shitcoin... not even in the same stratosphere. honestly can't believe some of the comments in here lmfao. if you don't KNOW, don't say anything.

coinfeeds-bot

tldr; Blockchain is poised to revolutionize the global financial system by addressing inefficiencies like slow settlement and siloed markets. While crypto advocates envisioned decentralization, Wall Street is driving adoption through permissioned blockchains, such as JP Morgan's system, which enhances transparency and efficiency. Tokenization will enable seamless asset transfers across networks, potentially leveraging public blockchains like Ethereum. The future will likely see hybrid systems combining traditional finance, blockchain, and emerging technologies like AI. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ShivaDestroyerofLies

Largely I’m just accumulating and holding right now. It’s an ERC20 so all the common smart contract and staking stuff applies. An interesting recent bit was the release of an AVAX debit card that lets you use AVAX/USDC/USDT on the avalanche chain like a debit card. Seems kinda sketchy to me but I believe the primary focus is areas where the banking systems are underdeveloped or unreliable. The biggest factor in my mind though is the creation of various customizable subnets. This enables projects or companies to use Avalanche to quickly create their own mini blockchains with their desired settings. Several companies such as JP Morgan & Deloitte are already taking advantage of this and the state of California has plans to use Avalanche for tokenization of vehicle registration for example.

noBeansHere

I would actually go even further to say the whole government itself. (I'm not disagreeing with you) just giving my two cents because its deeper than just one president. Left and right always screw something up because its always one party sets their plans up, then a new party gets in the next cycle. They reverse it and put their plan in. Then, the next cycle, the other party wins, reverses everything, and puts their plans in. Two wings of one bird that can never agree on a middle ground. So it keeps flip-flopping. Even the Senate and Congress. They're always reversing the other parties' plans before they can play out. I'd like to say that Obama, having 8 years in office, did make it consistent and smooth. Sadly, both sides are in constant war with each other for power. OG George H. Bush reversed Reagan's admin. Then Clinton Reversed Bush Sr. Admin. Then Bush Jr, reversed Clinton's. And so on. History time: I, on the other hand, still do not believe markets care about ideology, president's or any leader. Especially when the top 5 families in our country are the real controllers. Kennedys Rockefellers Rothschilds Morgans (JP Morgan) Carnegies History goes back to when the US govt was struggling to stay afloat and the rothschilds were one of the first families to bail the US out by loaning them money. In the long run, the banking system was born and then fed reserve and other many details in between.

Warrlock608

Worst case scenario it happens in 2026 when Powell can be replaced with a yes man. Right now I think Trump is going to speed run the economy into the toilet and JP will start needing to get out the QE playbook.

ThriceHawk

Chainlink is integrated throughout a majority of crypto and is a crucial piece. Coinbase, Hedera, Aave, Arbitrum, Ripple, Solana, Tron, on and on... are all partnered with or integrated with Chainlink. Then, they have a massive reach into traditional finance, bridging the gap with crypto. They're partnered with SWIFT, Fidelity, The DTCC, UBS, Citi, JP Morgan, BNY Melon, BNP Paribas, Edward Jones, ANZ, Franklin Templeton, Trump's World Liberty Financial, the Central bank of Brazil, etc. SWIFT is going live in production with Chainlink later this year for their 11,500 financial institutions.

satoshiwife

Alts in bear market for more than 3 years. JP will still say "economy is pretty strong" yes bich is that why RISK ON ASSETS ARE ON BEAR MARKET FOR 3 YEARS?

Embarrassed_Prize478

Much gold still exists in banks, such as JP Morgan Chase.  They are a symbol of capitalism as well. Security is pretty high . I used to work at their 60 Wall St., NY location.

biba8163

mETH head from 2021: > If you take today's level of purchasing required to sustains a price of $4k ,let's say, thats 13500 eth being sold for $4k each per day - so $54,000,000. If you put that same dollar amount into Ethereum when the daily issuance is only 1350/day, thats $40k. > Factor in all the other bits and pieces of the Ethereum eco system, such as staking, defi, gaming, nfts, institutional demand, etc. **You're probably looking at more like $50k-$75k/eth in 4-5 yrs time.** > Note the opinion that *Eth will flip Bitcoin is an opinion shared by JP Morgan, Morgan Stanley, Goldman Sachs and Devere ... that list is growing.* > Bitcoin has to my knowledge done almost nothing to address scalability, still not got fully capable smart contracts, and still **runs on PoW which is a non-starter for institutional adoption.** It will fall behind unless they make some drastic changes in my view. https://np.reddit.com/r/CryptoCurrency/comments/r86ygc/eth_is_not_decoupling_from_bitcoin_or_taking_over/hn4wi4z/

Cold-Operation-4974

SEC fines always seem tiny compared to the crime committed.  JP Morgan manipulates xxx,xxx,xxx,xxx worth of derivative contracts and pays a x,xxx,xxx fine its almost like the fine HAS to be less than 5% of the amount XYZ corporation's profit from the fine 'merica

AreYouEvenMoist

Banks are using their own coins now right? E.g JP Morgan

Giozos1100

Just admit you have no idea how tokenization works. Companies like MasterCard and JP Morgan already use this technology.

Mission_Wolverine_72

Sure was! To make it even more interesting a lot of folks who were suppose to be on that ship cancelled last second like JP Morgan. Just so happens the folks who died on the ship were some of his biggest competitors and also were folks trying to stop the federal reserve from forming. Guess what formed a year later? Federal Reserve!

satoshiwife

Doesn't feel like Bitcoin Dominance will ever find a top. There's no hope. Degens nonstop launching meme coins and ruined the whole industry, even presidents are fking launching meme coins. Inflation is still not under control and JP is a big clown who doesn't know how shit works It's literally over

_Piratical_

A million bucks for JP Morgan Chase is like you collecting the copper residue off of a penny and telling the world how much you have.

Hinano77

Up those #s JP!

Worried-Low4580

Couldn’t possibly be related to the rampant fraud the meme casino has ushered in. Staining the reputation and adoption of real utility within the crypto space. Please enlighten us how Ripple and/or Ondo utility is a fantasy? Given the real world application and adoption seen in Bank of America, JP Morgan, Black Rock and Japanese banks (ex SBI)

Chimera_Ant

The real beauty of Ripplenet and XRP is that now any financial institution has access to on and off ramps in many different countries direct. Currently small to medium size banks need to go through correspondent banks to get access to their global network of nostro/vostro accounts. Moving funds from one smaller countries currency into another small countries currency can even require multiple correspondent banks. These big banks such as HSBC/Citigroup/JP Morgan Chase etc hold trillions of dollars in these nostro/vostro accounts and charge massive fees for the use of it by other banks. Ripplenet can bypass this completely. So now smaller companies can save a lot of money removing the middle men. And when the standard is no longer paying other banks to move funds then new players will pop up and competition will create a race to the bottom undercutting each other trying to take market share. Not only does that enable small financial institutions to save money which will eventually save money for customers it also enables these trillions of dollars to no longer be needed and can instead of laying dormant in nostro/vostro accounts be put to work for the massive banks.

Metalbasher

It's hard to get your head around...and I'm certainly no expert.... But you really need to not think about the What ifs...buts...and maybe scenarios. Yes you would have sold half on the first big pump.. Then half maybe on the next... Thats the logical way to take profits. For myself.. I should have brought more BTC at 4k, 10k, 20k... I should have brought more mastic/polygon...would I have sold in time.. Should have timed the top on Netvrk...some meta thing... Should have brought more BNB... Mantra were trying to sell this regulated US spun Som things prior to RWA.. Then JP got sort of lucky in Dubai will a shill....that's crypto.... There lending platform was probably the biggest failure.. But anyways... Keep at it.. And don't lose faith in polkadot.

willzyx01

In other news, JP Morgan would like to buy cheap Bitcoin.

solomoncobb

Why would you be afraid quantum computing would mean that bitcoin wouldn't be safe? Don't you think blackrock is gonna have access to quantum computing to keep their bitcoin safe? Or JP. Morgan? Or the US govt? Who's gonna use quantum computing first?

biba8163

Reminder that banking giants like JP Morgan, Mitsubishi UFJ Financial Group mentioned here, etc have their own blockchain networks, coins, tokenized assets. The idea that banks and financial institutions are all going to be using Ripple, Ethereum, or the token you're invested in is bagholder delusion. - JPM Coin from banking giant JP Morgan is a bank coin. (Note, JPMorgan has rebranded JPM Coin to Kinexys Digital Payments) - Progmat Coin from Japanese giant Mitsubishi UFJ Financial Group is a bank coin. You will hear bankers talking about banking coins, their permissioned institution-to-institution networks that create deep liquidity pools for moving money world wide. You will never hear these big banks working with Ripple to use XRP. > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviosly central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video > Last year, MAS launched the Global Layer One (GL1) initiative to foster the development of a public permissioned foundational digital infrastructure, upon which commercial networks could be deployed creating an open, digital infrastructure enabling cross border transactions and global liquidity pools. Since the launch, MAS and a core group of global banks, namely BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE, have been leading efforts to define the business, governance, risk, legal and technology requirements of the GL1 Platform. > The Kinexys Digital Payments removes traditional treasury friction points and is ideal for managing real-time liquidity through cross-border payments beyond currency cut-off or non-banking hours, such as on banking holidays and weekends. https://developer.payments.jpmorgan.com/docs/treasury/global-payments/capabilities/global-payments-2/jpm-coin-system > Mastercard (MA) has connected its blockchain-based system for shifting tokenized assets, the Multi-Token Network (MTN), with JPMorgan’s (JPM) recently rebranded digital assets business Kinexys https://www.coindesk.com/business/2024/11/21/mastercard-and-jpmorgan-link-up-to-bring-foreign-exchange-on-the-blockchain

Adorable-Error8302

Reminds me of when Max Keiser was telling people to buy solid silver because JP Morgan was basically taking people's money for their paper notes and using it to short the market against them instead of actually buying silver haha.

MinimalGravitas

> How is eth aligned with the future direction of the global market, not just crypto? The future direction of global markets is towards tokenization of traditional financial assets. [Visa](https://investor.visa.com/news/news-details/2024/Visa-Introduces-the-Visa-Tokenized-Asset-Platform/default.aspx) is the biggest card payment company in the world. [UBS](https://www.ubs.com/global/tc/media/display-page-ndp/en-20241101-first-tokenized-investment-fund.html) is the biggest private bank in the world. [Blackrock](https://securitize.io/learn/press/blackrock-launches-first-tokenized-fund-buidl-on-the-ethereum-network) is the biggest asset manager in the world... all of them have started tokenizing assets onto Ethereum. [UBS's RWA initiatives](https://www.tradingview.com/news/u_today:4c8d6b2d7094b:0-largest-swiss-bank-ubs-tests-its-product-on-ethereum-s-l2-zksync/) are part of a much larger program called '[Project Guardian](https://cointelegraph.com/learn/articles/project-guardian-explained)', led by the [Monetary Authority of Singapore](https://www.mas.gov.sg/publications/monographs-or-information-paper/2024/guardian-funds-framework) and with a huge number of financial entities participating, ranging from from [asset managers](https://gftn.co/sff-2024-videos-payments/project-guardian-tokenized-investment-vehicles-for-asset-and-wealth-management), market operators, custodians, credit rating agencies like [Moody](https://ir.moodys.com/press-releases/news-details/2024/Moodys-Announces-Participation-in-Project-Guardian-to-Explore-Asset-Tokenization/default.aspx), [central](https://www.bundesbank.de/en/press/press-releases/bundesbank-joins-project-guardian-943616) and [commercial banks](https://www.db.com/news/detail/20240514-deutsche-bank-joins-project-guardian-to-explore-asset-tokenization-applications?language_id=1), and even regulators like the [UK's Financial Conduct Authority](https://www.fca.org.uk/news/statements/fca-joins-forces-global-regulators-foster-digital-innovation-project-guardian). [Deutsche Bank's Ethereum L2](https://cryptoslate.com/deutsche-bank-to-develop-ethereum-layer-2-blockchain-to-tackle-tradfi-compliance-issues/) is part of it (under the name 'DAMA 2'), [JP Morgan](https://www.jpmorgan.com/kinexys/content-hub/institutional-defi) has recorded Ethereum transactions back as far as 2022 as part of Project Guardian, and I think [Stripe's project](https://news.bloomberglaw.com/crypto/stripe-says-stablecoin-payments-made-in-more-than-70-countries) with Chainlink is also linked to it. The end goal is a global network of 'public permissioned' chains, where regulators can set rules for entities operating in their jurisdictions, but these platforms can all be interoperable, as well as gaining [advantages of transparency](https://www.sec.gov/newsroom/speeches-statements/uyeda-remarks-30th-intl-institutes-securities-mrket-growth-development-061424) and [smart contracts](https://www.mckinsey.com/industries/financial-services/our-insights/from-ripples-to-waves-the-transformational-power-of-tokenizing-assets) that we all know and love from traditional crypto... and the companies that are involved seem to have coalesced around using Ethereum as the single distributed ledger for settlement, and building L2s on top of it where necessary as permissioned but interoperable execution layers on which different jurisdictions regulatory rules can be applied. But how does this help ETH the asset? Each L2 needs to spend ETH in order to secure itself and settle transactions to the L1. This ETH is burned in exchange for 'blobs' of data storage on the network. The more L2s, the more ETH they need to buy and the more they need to burn. This is cheaper for them than subsidizing the security of their own L1, and provides them the full economic security of Ethereum (which would [cost more to successfully attack than even Bitcoin](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4727999)) and so is the obvious choice for institutions, but in aggregate will make ETH the asset deflationary even if no one ever uses the Ethereum L1. If you still aren't convinced, note that I've only mentioned a fraction of the mainstream adoption that we're seeing on Ethereum, for a fuller list (with links, obviously) check out https://ethereumadoption.com/.