articleStartImage

JPMorgan CEO, Jamie Dimon, can’t stop talking about Bitcoin. While he called it a fraud in September, he followed it up with more bashing, and in his latest tirade, he claimed Bitcoin buyers and traders are “stupid” and will “pay the price”

Not only are Jamie Dimon’s statements uninformed, deceptive and hypocritical, they are also very insulting and damaging for individuals who have built their businesses around blockchain technology and Bitcoin.

One such individual is Ilan Tzorya, Founder of Krypton Capital, an early-stage venture firm that works with Blockchain ventures and has investments in multiple sectors, including Technology and Media.

Ilan Tzorya, while speaking to Cryptovest, shared his intent to join forces with other blockchain and crypto space leaders, and consult some of the biggest law firms in the world, in order to collectively sue Jamie Dimon for defamation and malicious comments that damage Bitcoin and blockchain based businesses.

Currently Ilan is planning an ICO campaign to raise funds for the potential suit, and will proceed as soon as he gets a green signal from his lawyers.

“Jamie Dimon is clearly being hypocritical in his statements and is working against all the positive change blockchain ventures are trying to make. Him calling Bitcoin believers “stupid” is malicious and damages the reputation of legitimate businesses,” said Ilan Tzorya.

“My team is currently communicating with other blockchain and crypto leaders and some of the biggest law firms, and we are discussing ways to move forward with legal action against Mr. Dimon for his defamatory and malicious statements. We might launch a crowdfunding campaign to raise funds for the legal proceedings.” he went on to add.

Jamie Dimon seems to have a love-hate relationship with Bitcoin. He seemingly hates it, but definitely loves the attention it brings him. Interestingly, others have also spoken against Jamie’s stance, with John McAfee, calling him “a mad man” and Bart Stephens pointing out the hypocrisy of Jamie Dimon’s statements.

Then there was also the case of JPMorgan trading activity showing Bitcoin purchases after the big dip in price following Dimon’s comments. However, the bank issued a statement saying those orders were private customers using JPMorgan pipelines. 

In his latest comments, the JPMorgan CEO did say that he won’t be talking about Bitcoin again. But that’s exactly what he said just one day earlier.

“But this is the last time I'm ever going to answer questions about bitcoin because I really don't care.”

Yesterday however, JPMorgan announced a partnership with two other banks in order to launch a Blockchain-based Interbank Information Network (IIN), aimed at facilitating global money transfers.

As for Bitcoin, despite all the criticism, it stayed strong after having broken the $5,000 barrier and is currently trading around $5,700.