JPMorgan Opens Bitcoin Access, Dimon Refuses Custody

Jamie Dimon, CEO of JPMorgan Chase, announced a shift in the bank’s stance towards Bitcoin, allowing clients to buy the cryptocurrency without directly managing or storing assets. This move aligns JPMorgan with competitors like Morgan Stanley, which also offers similar access for clients. While acknowledging his skepticism about cryptocurrencies, Dimon framed the decision as respecting client choice. However, despite recent moves toward inclusion, he remains a vocal critic of Bitcoin’s potential for illicit use such as money laundering and other criminal activities. Quantum Biopharma, a Canadian biotech firm, increased its Bitcoin holdings to $4.5 million through strategic investments, highlighting corporate interest in crypto assets. Similarly, Basel Medical Group, based in Singapore, plans to acquire $1 billion in Bitcoin as part of its expansion strategy. Meanwhile, Procolored, a Chinese printer manufacturer, has come under scrutiny after distributing malware-infected drivers that stole almost $1 million worth of Bitcoin. This incident highlights the ongoing risks associated with cryptocurrency use and raises concerns about security breaches within corporate spaces.