Overview

• JPMorgan Chase will allow clients to buy bitcoin through brokerage statements but will not custody the cryptocurrency, marking a significant policy shift for the bank.
• CEO Jamie Dimon, a long-time bitcoin critic, reiterated his personal skepticism, citing concerns over its use in illegal activities and lack of intrinsic value.
• Dimon cautioned that markets are underestimating risks, describing recent rebounds as overly complacent and warning of doubled odds for stagflation.
• He highlighted the ongoing impact of U.S. tariff policies, labeling them 'pretty extreme' and noting the bank has lost some international business as a result.
• Dimon reaffirmed JPMorgan's leadership continuity, stating he plans to remain CEO for several more years before transitioning to an executive chair role.