EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

JPMorgan Remains Bullish Despite Decline in Crypto Demand

Admin by Admin
September 21, 2022
in Crypto News
0
JP Morgan Registers For Crypto Wallet Trademark
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter
Event Event

JPMorgan company has made its report known about the current situation in the cryptocurrency market.

The financial firm’s head of global head of payments, Takis Georgakopoulos has revealed that the firm has witnessed a significant decline in demand for crypto payments by its clients in the past six months. The company however remains bullish on cryptocurrency, according to Bloomberg.

The crypto industry has been shaken this year by events that have led to a market downturn. The collapse of Do Kwon’s Terra Luna has contributed to its fall.

Takis Georgakopoulos, head of Payments at JPMorgan Chase bank, has revealed that demand for crypto payments by its customers has crashed significantly in the past six months.

“We saw a lot of demand for our clients, let’s say up until six months ago. We see very little right now.” Georgakopoulos stated during an interview with Bloomberg Television.

Despite the decline in demand for crypto payments and the unfavorable market conditions, Gergakopoulos has made it clear that the bank will continue to support crypto use cases.

“But we continue to support those use cases. We don’t take principal risks. But if someone wants to use their crypto as a payment method, we can support that. Just that it’s a niche use case, at least for now,” he added.

While the current shortage of demand for crypto payments by JPMorgan customers is not an entirely strange occurrence, as cryptocurrency investors generally shy away from spending their holdings during a bear market, preferring to ‘hodl’ on instead, the story is different for other market participants.

JPMorgan is the largest lender in the United States with a balance sheet of $2.87 trillion.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: CryptocurrencyJPMorgan
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

XAG/USD Climbs to Mid-$19.00s

Next Post

USD/CAD Sits Near Two-year High

Admin

Admin

Next Post
USD/CAD

USD/CAD Sits Near Two-year High

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Axie Infinity price

Axie Infinity Price Eyes 25% Gains Ahead of the Token Unlock

April 21, 2023
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance Refocuses Efforts For Belgian Clients

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
Chainalysis Lays Off 15% Of Staff To Curb Expenses

Chainalysis Lays Off 15% Of Staff To Curb Expenses

October 4, 2023
CFTC Chair Pushes For DeFi Regulation Amid Industry Tensions

CFTC Chair Pushes For DeFi Regulation Amid Industry Tensions

October 3, 2023
Bitcoin Fails To Hold $28,000 Amid Bond Yields Surge, Fed Hike Coming?

Bitcoin Fails To Hold $28,000 Amid Bond Yields Surge, Fed Hike Coming?

October 3, 2023
FOREX: EUR/USD Holds Steady Below 1.0500

FOREX: EUR/USD Holds Steady Below 1.0500

October 3, 2023

Recent News

Chainalysis Lays Off 15% Of Staff To Curb Expenses

Chainalysis Lays Off 15% Of Staff To Curb Expenses

October 4, 2023
CFTC Chair Pushes For DeFi Regulation Amid Industry Tensions

CFTC Chair Pushes For DeFi Regulation Amid Industry Tensions

October 3, 2023
Bitcoin Fails To Hold $28,000 Amid Bond Yields Surge, Fed Hike Coming?

Bitcoin Fails To Hold $28,000 Amid Bond Yields Surge, Fed Hike Coming?

October 3, 2023
FOREX: EUR/USD Holds Steady Below 1.0500

FOREX: EUR/USD Holds Steady Below 1.0500

October 3, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Chainalysis Lays Off 15% Of Staff To Curb Expenses

Chainalysis Lays Off 15% Of Staff To Curb Expenses

October 4, 2023
CFTC Chair Pushes For DeFi Regulation Amid Industry Tensions

CFTC Chair Pushes For DeFi Regulation Amid Industry Tensions

October 3, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>