Trading

Why Wall Street’s smart money is embracing ‘stupid’ cryptocurrency

With exchanges reportedly making billions, JPMorgan and Goldman Sachs cannot afford to miss the crypto boat

Jamie Dimon warned that if he caught a trader buying or selling bitcoin he would "fire them in a second "
Jamie Dimon warned that if he caught a trader buying or selling bitcoin he would "fire them in a second " Photo: Getty Images

Jamie Dimon called bitcoin a “fraud”. Lloyd Blankfein said it was “not for me”. Just a few months later, their respective banks, JPMorgan and Goldman Sachs, are dipping their toes in the cryptocurrency waters.

One explanation for their perceived change of heart?

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