Longtime outspoken Bitcoin critic Jamie Dimon, CEO of JPMorgan Chase, said the world’s largest bank will soon allow its clients to buy Bitcoin (BTC). While JPMorgan will not custody the top crypto, the move signals a shift in how the bank deals with the asset. JPMorgan Clients Will Soon Be Able To Buy Bitcoin Speaking at JPMorgan’s annual Investor Day on Monday, Jamie Dimon revealed that the bank he runs will now allow clients to purchase BTC. “We are going to allow you to buy it,” Dimon told shareholders, though he added JPMorgan will not provide custody services for the asset. Dimon previously stated that JPMorgan was “probably one of the biggest users of blockchain,” but on Monday, he dismissed the hype around blockchain, asserting it’s less important than people make it out to be. “We have been talking about blockchain for 12 to 15 years,” he opined. “We spend too much on it. It doesn’t matter as much as you all think.” It’s worth mentioning that JPMorgan’s Kinexys Digital Payments platform recently settled a tokenized U.S. Treasury transaction on a public blockchain, in collaboration with Ondo Finance and Chainlink. Dimon Still Isn’t A Fan Of Bitcoin Over the years, Dimon has maintained that Bitcoin “has no intrinsic value”. In 2017, he even threatened to fire any employee found trading the apex crypto, describing the act as “stupid.” He doubled down on Monday that he is still not a fan of Bitcoin because of its use for illicit activities like sex trafficking and money laundering. Earlier this year, Dimon and other banking bosses spoke about their struggles with crypto amid criticism that the U.S. government has restricted what they can do in the burgeoning sector. However, the pro-crypto Trump administration has triggered a change of heart for many in legacy finance. Goldman Sachs, for instance, recently mentioned crypto in its annual report for the first time and hinted that the Wall Street giant could participate in crypto if US regulations shift. Notably, U.S. Federal Reserve Chairman Jerome Powell announced that banks can serve crypto clients as long as they can handle the risk.
Ripple CEO Brad Garlinghouse has called out U.S. Senator Cynthia Lummis for canceling a meeting and refusing to reschedule. Lummis, known for her pro-Bitcoin stance and role as Chair of the Senate’s Digital Assets Subcommittee, has been a vocal figure in crypto legislation. However, Garlinghouse expressed disappointment over her decision, emphasizing the need for inclusive leadership across the broader digital asset industry. Heading to DC to champion sensible pro-crypto legislation around stablecoins and market structure, and I’m very encouraged to see our elected officials look at crypto as it should be – a multichain industry. That said, @SenLummis , as Chair of the Digital Assets Subcommittee,… — Brad Garlinghouse (@bgarlinghouse) May 19, 2025 Ripple’s Push for Sensible Crypto Regulation Garlinghouse announced traveling to Washington, D.C., to advocate for “sensible pro-crypto legislation” focused on stablecoins and market structure. While optimistic about other elected leaders who see the crypto industry as a multi-chain space, his comments suggest that Lummis’ refusal to meet with him contradicted the responsibilities of a national leader. Some maximalists see Lummis’ actions as support for Bitcoin, with one commenter calling Bitcoin the only asset that matters, with others suggesting that Lummis shares their maximalist views. However, Garlinghouse’s statement shows that he maintains his inclusive stance and wants to advance the market. “As a leader in Congress and Senator from one of the most crypto-friendly states,” he wrote, “I hope you will reconsider and be a leader for ALL of crypto.” Garlinghouse has consistently pushed for inclusivity in the crypto space, and while Bitcoin maximalists were calling for a Bitcoin-only national crypto reserve, Garlinghouse suggested a multi-asset reserve to include top U.S. cryptocurrencies. Ripple’s Stablecoin Initiative and Broader Crypto Goals Ripple has been active in shaping the U.S. regulatory framework for digital assets, and Garlinghouse has consistently positioned the company as a key stakeholder in that process. The meeting with Senator Lummis was expected to support that mission, particularly as Ripple expands its influence through its new stablecoin initiative, RLUSD. Launched in December 2024 , RLUSD represents Ripple’s strategic entry into the stablecoin market. Ripple has stressed the importance of regulation and transparency, and the long-running XRP lawsuit and the negative effects it had on the asset show the importance of sensible regulation. Ripple has big plans for RLUSD as Garlinghouse previously revealed plans to make it one of the top five stablecoins by the end of 2025, and sensible crypto legislation is crucial in achieving that goal. Despite Lummis’ actions, Garlinghouse is optimistic and called on the Senator to join him on an X space or any live event to discuss ways to advance the entire crypto space and not just Bitcoin, and help achieve Donald Trump’s goal of making the U.S. the crypto capital of the world. The post Pro-Bitcoin Senator Cancels Meeting With Ripple CEO. Garlinghouse Responds appeared first on Times Tabloid .
According to a recent video by Edward Farina, founder of Alpha Lions Academy, XRP holders should think twice before selling every time the market dips. He pointed out that on May 12, XRP fell from $2.47 to $2.33—a 5.60% drop in 24 hours. Such moves stoke fear. But Farina says sticking around might pay off in the long run. Related Reading: Trump Token Mania: Over 6,000% Pump Or Classic Solana Trap? Strong Reminder To Hold Farina urged investors not to let a 20–30% pullback scare them out. He warned that selling during a small slide often kicks people out just before the next surge. When XRP fell to around $0.50–$$0.70 in past years, many sold. Those same coins later climbed by hundreds of percent. Holding through the downturn would have turned a small stake into a much larger gain. Big Gains Lost By Early Sellers Based on reports, people who bailed at $0.60 missed out on big rallies. That drop to the $0.50–$0.70 range represented a massive buying opportunity. But paranoia took over. Investors sold to shield themselves from more losses. They thought the dip would last. It didn’t. XRP’s price shot up, leaving many behind. When the $XRP train 🚆 leaves the station it won’t stop to take more passengers. Make your choices NOW or regret later, unfortunately 95% will be left behind. REPOST 🔀 only if you are still holding! pic.twitter.com/mcGk5urQdd — EDO FARINA 🅧 XRP (@edward_farina) May 12, 2025 Simple Three-Step Approach Farina laid out what he calls a clear plan: buy the coin, hold it long term, and stay brave when the market gets shaky. He dismissed the need for complex tactics like day‑trading or staking. He even said you don’t need a huge pile of cash to get started. Instead, courage during volatility is what counts. That message is meant to be easy to follow. Institutional Interest And Conviction He also spoke about doing a “conviction move” by studying XRP’s tech, financials, and geopolitical role. According to Farina, XRP serves as a bridge currency for fiat transfers. He claims this has drawn the eye of big players like the IMF and the Bank for International Settlements. He believes this backing shows that demand could stay strong. Warning On Risks And Reality Farina admitted he once sold in panic and missed out. Now, he says he’d hold his XRP even if the price fell to zero. That’s a bold stance. Yet, real markets can be unpredictable. No amount of courage can replace the need for risk checks and exit plans. Related Reading: XRP 100x Gains Coming? The Future Is Closer Than You Think—Analyst XRP Price At A Glance At press time, XRP traded at $2.37, down 3.25% over 24 hours and 1.7% for the week. Farina warned that when XRP takes off, it could move so fast that 95% of investors get left behind. He urged people to act now if they want a seat on the “XRP train.” Featured image from Unsplash, chart from TradingView
Despite last week’s crash , Bitcoin Dominance (BTC.D) remains significantly elevated, reinforcing its strong position on the charts. This sustained rise in dominance sends a clear message that Bitcoin (BTC) still holds a considerable amount of investor attention, leaving the rest of the market, particularly altcoins, struggling to keep pace . Bitcoin Dominance Powers Ahead, Eyes Major Resistance On May 17, crypto market expert ‘Daan Crypto Trades,’ took to X (formerly Twitter) to share insights on Bitcoin Dominance , highlighting how its continued rise could impact alternative cryptocurrencies . The analyst shared a chart showing that BTC.D has been steadily climbing for almost three years, since mid-2022, after bottoming out near the 39% level. Related Reading: Crypto Analyst Says “Altseason Is Dawning” As Bitcoin Dominance Reaches HTF Resistance, What To Expect Since then, Bitcoin has slowly reclaimed its market share, outperforming altcoins in almost all categories, including price performance and market capitalization. Based on the chart, this momentum has led BTC.D to climb past key resistance levels at 48%, 52%, and, more recently, above 60%. Despite a brief retracement this past week, Daan Crypto Trades highlights that the overall structure of the BTC.D chart remains bullish, with the flagship cryptocurrency continuing to attract substantial capital inflows. What stands out the most as Bitcoin Dominance rises is its steady approach toward a critical resistance level at 71.3%—a zone historically marked as the top of BTC.D during previous cycles. The analyst’s chart shows three failed attempts to break this level in 2019, 2020, and 2021. Each rejection was followed by significant altcoin rallies, indicating that this zone could once again be a significant battleground between Bitcoin and the broader altcoin market . If BTC.D revisits this historical resistance level , Daan Crypto Trades suggests that it could serve as a key signal for traders to closely monitor the behavior of altcoins, as any rejection might ignite a strong rotation of capital back into altcoins. For now, Bitcoin remains in control, driven by institutional inflows , increased demand, and a generally positive market sentiment . Altcoins, on the other hand, continue to trail behind, struggling due to reduced liquidity and weaker investor interest. Nevertheless, historical price trends indicate that once Bitcoin Dominance reaches the top and begins to plummet, altcoins could be poised for a strong comeback, signaling the possible start of the altcoin season. Analyst Says BTC.D Is Reaching A Top After experiencing months of steady gains, a crypto analyst identified as ‘CT_TAC’ on X has declared that Bitcoin Dominance may be approaching its peak. He revealed that BTC.D is also flashing potential weakness after breaking down from a rising wedge chart pattern and struggling to reclaim lost ground. This breakdown marked a critical shift in momentum, with BTC.D briefly dipping before attempting a recovery . Notably, a sustained move lower in Bitcoin Dominance would indicate that capital has finally begun to rotate out of the flagship cryptocurrency and into altcoins—a necessary condition for an altcoin season . With BTC.D still struggling to reclaim former highs, the analyst has noted that next week’s performance will be critical in determining whether it continues to rise or drops to new lows.
Cardano (ADA) founder Charles Hoskinson has categorically denied allegations that $600 million worth of ADA (approximately $318 million ADA) was misappropriated. Hoskinson announced that he will publish a comprehensive audit report regarding the transfer made during the 2021 Allegra hard fork that was at the center of the controversy. NFT artist Masato Alexander claimed that Hoskinson unilaterally used “genesis” keys to manipulate the Cardano ledger in 2021 and took control of 318 million ADA. Alexander compared the incident to Ethereum’s DAO hack in 2016, saying, “The Ethereum community did a hard fork for a $60 million hack; here, there is a $619 million intervention.” Responding to the allegations, Hoskinson said, “Input Output Global never allocated 350 million ADAs. This is a complete lie.” He stated that the majority of the ADAs in question were claimed by the original recipients over a seven-year period, while the rest was donated to an organization called Intersect. Related News: Why Did the Rally in Ethereum Stop? Expert Analyst Predicts the Future of Bitcoin and ETH in the Coming Days Hoskinson made the following statement in his statement: “No matter how many times people lie, the truth remains the same. The vast majority of those 350 million ADAs were reclaimed by their original owners within seven years. The rest were donated to Intersect after the legal deadline.” Hoskinson stated that the events deeply affected him and that he was disappointed that some people in the Cardano community did not trust him: “In a crisis, you quickly learn who your real friends are and who your just ‘good-weather friends’ are. The fact that some people treated me this way without providing any proof showed me that the bond between us was not as strong as I thought. This really upset me.” Hoskinson also announced that he plans to hand over his social media accounts to a media team and change the format of his regular AMA (Ask Me Anything) posts and X (formerly Twitter) interactions following the release of the audit report. Charles Hoskinson concluded his remarks by stating that he will still be present at events and will not give up on one-on-one contact with the community. *This is not investment advice. Continue Reading: Cardano (ADA) Founder Responds to Allegations of Stealing $600 Million Worth of ADA
A downgrade from Moody’s had US Treasury yields on the rise, but history says the volatility should be short-lived
On Monday, during the company’s investor day event, CEO Jamie Dimon said that JPMorgan will soon allow clients to buy Bitcoin. However, he said the bank will not provide custody services for the asset. The bank’s approach underscores a broader trend among traditional financial institutions to accommodate client demand for digital assets while maintaining a cautious stance on direct involvement. JPMorgan balances client interest with its risk management strategies by enabling Bitcoin purchases without providing custody services. JPMorgan is among the American banks that have been accused of debanking in the last three years. However, the policies that were unfair to the crypto industry were revoked. These include “Operation Chokepoint 2.0” and the decision to drop the controversial accounting rule SAB 121. Although the bank is still not treating crypto like other traditional assets by offering custody, the finance sector looks more open to blockchain technology. Jamie Dimon says he still doesn’t like BTC After the announcement, Dimon clarified that he is not a fan of Bitcoin. However, by allowing Bitcoin into the bank, it tells how much has changed since 2017. Back then, he called Bitcoin a “fraud,” said it was like the tulip bubble, and said it would burst. He went as far as saying that he would fire any JPMorgan worker caught dealing with it. In 2024, he said that he would no longer discuss Bitcoin publicly. He also said that Bitcoin “has no intrinsic value” and is heavily used by criminals involved in sex trafficking, money laundering, and ransomware activities. However, although he said all this, JPMorgan has stayed involved in the crypto market by letting its wealth management clients buy Bitcoin. The bank is also a registered participant in BlackRock’s spot Bitcoin ETF. Recently, JPMorgan Chase completed its first structured trade on a public blockchain. The company had only worked in private, permissioned networks for institutional clients for years. The testnet deal was done with the help of Ondo Finance (a leader in tokenizing real-world assets) and Chainlink (the top cross-chain oracle network). Both companies provided infrastructure, and Kinexys, JPMorgan’s blockchain division, ran it. Meanwhile, investors are reacting on all social media, saying Dimon contradicts himself by saying he doesn’t like BTC but will allow his clients to buy. Bitcoin rally is on During the Asian trade session on May 19, the price of Bitcoin dropped sharply by 4%. It fell from an “important level,” as Glassnode put it. The platform for analyzing data showed that Bitcoin’s rise stopped just below $106,600, a key mark where 31,000 BTC are held. Bitcoin price cost basis chart. Source: Glassnode Also, after Moody’s downgraded the US credit rating and US Treasury yields went up, investors became more interested in risky assets like Bitcoin. However, the macroeconomic pressures got stronger and influenced the drop. Meanwhile, Strategy (MSTR) bought 7,390 BTC for about $764.9 million at $103,498 per Bitcoin on average. With this new purchase, the company now has a total of 576,230 BTC in Bitcoin, worth about $60 billion at the current market price of $105,000 per Bitcoin. The average price at which Strategy bought all of its bitcoins is now $69,726. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Jamie Dimon, the chief executive officer of JPMorgan, has said that the bank will allow its clients to buy Bitcoin. JPMorgan CEO Jamie Dimon, a longtime crypto skeptic who has previously labelled Bitcoin ( BTC ) as worthless, now says the bank’s customers can buy the benchmark digital asset. Dimon announced the move during a speech at the banking giant’s annual investor day on May 19, 2025. However, while JPMorgan bids to join other leading banks and financial institutions, including Morgan Stanley, in bringing BTC to their clients, Dimon remains skeptical. He also noted that while JPMorgan will allow its customers to buy Bitcoin, the bank will not custody it. On his personal view about Bitcoin, Dimon has said: “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.” After calling Bitcoin worthless in 2021, Dimon reiterated the take during a Senate hearing in 2023 and again in 2024 at the World Economic Forum in Davos. Earlier this year, Dimon likened Bitcoin to a “fraud.” You might also like: JPMorgan’s Dimon says he will now ‘defend your right to buy Bitcoin’ In his remarks about crypto and the ecosystem to lawmakers, the JPMorgan chief said he has always been “opposed to crypto, Bitcoin.” He noted that the only true use case of cryptocurrencies remains by criminals, money laundering, and tax evasion. He has previously said he would shut Bitcoin down if it was all down to him. “If I was the government, I’d close it down,” he noted in remarks in December 2023. While Dimon has maintained a negative view of BTC and crypto, the broader banking ecosysem has increasingly warmed up to it. Banks such as Morgan Stanley have shown greater ambition in tapping into the crypto market for their clients . This has come as the launch of Bitcoin spot exchange-traded funds continues to shine a spotlight on institutional demand. Also taking a more upward trajectory is the tokenized assets market, with players such as BlackRock key cogs. Notable shifts in regulatory approach by the U.S. Securities and Exchange Commission, banking regulators and others are also pushing crypto into widespread adoption across the globe. This positive outlook has gathered pace under President Donald Trump’s pro-crypto stance. You might also like: Bitcoin’s institutionalization puts brakes on wild rallies, analyst says
Strategy, a major Bitcoin-focused intelligence firm led by Michael Saylor, is now facing serious legal trouble. A group of investors has filed a class action lawsuit against the company. The plaintiffs accuse Strategy of making false and misleading statements about its profits and the risks associated with its large Bitcoin holdings . The lawsuit covers events that took place between April 2024 and April 2025. Investors Claim Strategy Hid the Real Risk The lawsuit in the U.S. District Court for the Eastern District of Virginia targets Strategy and its top executives. It names explicitly co-founder Michael Saylor, CEO Phong Le, and CFO Andrew Kang. Investor Anas Hamza, represented by the law firm Pomerantz LLP, is leading the lawsuit. The class action alleged that Strategy presented an overly optimistic view of its financial health while concealing key risks. According to the complaint, the software intelligence firm gave investors the impression that its Bitcoin -focused strategy would be highly profitable. However, the company allegedly downplayed the risk of the coin’s sharp price swings. When Bitcoin’s value dropped, investors say they suffered major losses. Strategy’s Shift in Accounting Raised New Questions In early 2025, Strategy started using a new accounting rule called ASU 2023-08 in compliance with the Financial Accounting Standards Board. This rule demands that companies show both gains and losses in the value of their crypto, based on market prices each quarter. Before adopting this rule, the Nasdaq-listed firm Strategy only reported losses when Bitcoin dropped, but did not show gains unless it sold the Bitcoin. After implementing this change, Strategy began showing big profits and strong Bitcoin results. Now, investors are arguing that the reports were misleading. They believe the company did not clearly explain the risks or possible losses associated with the new rule. Strategy Responds to Lawsuits, Stock Price Jump Strategy replied to the lawsuit in a public filing with the U.S. Securities and Exchange Commission (SEC). The company said it plans to fight the claims, but it cannot predict the case’s outcome yet. Strategy currently holds 576,230 Bitcoins, worth over $59 billion. The company bought those coins at an average price of $69,726 each, spending about $40.2 billion. According to CoinMarketCap data, Bitcoin is trading at about $104,000, showing strong growth. Experts believe the digital asset will go even higher, saying it is still in the acceleration phase. Even with the lawsuit in the news, Strategy’s stock (MSTR) went up by 1.8% as of Monday. Investors and the crypto community are waiting to see what happens next. The post Strategy Sued Over Misleading Profit Claims in $59B Treasury Bet appeared first on TheCoinrise.com .
Recent allegations against Strategy, formerly MicroStrategy, underline significant concerns regarding its Bitcoin investment strategy’s transparency and profitability. An investor has claimed the firm overstated the expected returns from its Bitcoin