35 Burst results for "Jp Morgan"
Decrypt
Institutional Traders Shifting Attention from Blockchain to AI JP Morgan
"12 a.m. Monday, February 6th, 2023 institutional traders shifting attention from blockchain to AI JPMorgan. Nearly three out of four institutional traders have no plans to trade crypto.
Decrypt
Shanghai Update Could Brighten Outlook for Coinbase JP Morgan
"11 p.m. Sunday, January 22nd, 2023. Shanghai update could brighten outlook for coinbase JPMorgan. The investment bank says the Ethereum network upgrade may cause coinbase revenue from staking to surge
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"No, it's sugar water overpriced sugar water. Smokey pot. That's the way. It's like 30 bucks. And you just got to have little patients at your house. Yeah. Absolutely. Have you ever gone to a place in aspirin espresso and they just dump like some shots in there in a cup? It's like that much. Those are good. I like those, but that's not what you've learned espresso. Like you expect a little something extra. Yeah, it's not enough drink. It's not enough involvement. It doesn't take enough time. You know, I need to be able to sip on it for a while. Yeah. Is that Gary P sitting down? Gary Pete singing. Does breaking news, brain news from the SEC? I mean, that sounds accurate. Integrating espresso systems technology to enable private transactions, of course, here we're talking about something different. Which is the espresso system. It is a zero knowledge infrastructure company with a suite of products or scalability and privacy. Besides cape, it's also working on a new product that could decentralize Ethereum Ethereum layer two sequencers, which order transactions that are settled on Ethereum as of now. All of the major layer two networks, such as archer, optimism, NDK sync, have yet to decentralize their synchronous. One of the critical components of the change. A downfall to DeFi is it makes corruption easier for politicians if you ever thought about this. Well, that would be assuming that they are all smart enough to use them. To figure out how to use DeFi, and the answer to that question right now is no. So by the time that that comes through, now there's some people out there that know what they're doing. But by the time most politicians understand how to use DeFi will already be regulated and there will, there will already be things put in place to prevent these politicians from using it for campaign contributions and things like that. All right, all right, all right, moving on. Is this our XRP store XRP?
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"You. Thank you. I love it. So here's what I want to say. It's drew. The number one thing you're concerned about, right? As a person that takes a lot of this stuff very seriously. More seriously than I take it. To be honest with you. I take it serious, but you take a very extremely serious the number one thing we're scared about with CBDCs, right? Is the ability for the government to limit your ability to spend money? Yeah, and that can be done with biometric data, tracing, you can have your retina scanned on your phone and tracking your emotional response to political figures as they speak in the future, and that will shut down your ability to purchase things at the grocery store the day of. So there's a lot of implications that we've got to scream at the top of our lungs to avoid, and they work for us that we have to remind them that they work for us. These legislators will not allow it. Yeah, they get it twisted. Wallace says, are you familiar with doctor Ben girtz while AGI X? I don't know what AGI check it out. But I know Ben gurz will very well. I talked to him several times. Consider my friend. For sure. I like him. And I think he's the smartest guy out there. As far as guy I've ever talked to, Ben cruzo. So all right, so the DDP laid out a series of warnings about the United States cautious approach, calling it a conspicuous absence and an unsustainable position because they're on the back end doing work on it. I'm sure. CDC expert CBDC expert and cofounder of fluent finance, Bradley all good. All good. Wow. He said it's fine. Yeah. So the U.S. has been setting leadership standards referring to the Federal Reserve bank of New York. It's testing the use of digital tokens. Representing digital dollars for wholesale transactions along with big banks. There we go. One inch launches proprietary hardware wallet as self custody, trend grows. We should release our own hardware wallet. Our own hardware wallet? Yeah, it should be like a small ten. You just put your crypto inside of it and close it up. I'm a big fan of that. I mean, it'd be pretty easy to produce. If it's just a ten. Yeah, it was just a ten. Yeah. The reviews would come in. It would be a ten out of ten. This is very bullish. It's always said I should be the tyrant a source. I like that. One inch introduced the one inch hardware wallet, surprisingly larger than one inch. Proprietary proprietary. Hardware wallet developed by an independent team working within the one inch network.
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"We're probably avoid that, but yeah, you know, we'll try to avoid that. Doctor might not be pretty. Might not be pretty. Well, the last time. Last time, about 15 years ago, we'll just say it ended with me beating up a cop, so issues. Ended up overdosing in the hospital for 30 days. So that's why we're sober today. Exactly. Thank you. Thank you to it was a mushrooms always acid, but go figure. I've been up for four days or 5 days, it was 7 hits of acid. Meth Coke and weed. The Coke in the acid is really what Mira top. And then I went insane. I went insane. I fought 6 cops, road cops arm. I was running down the street, running into running into cars. I ran into a car. I bounced off. I was bleeding everywhere, and then a cop pulls up and I jump up and I run up over the door. I catapult over the door and then I punch him at grab and throw him at break his arm about 5 cops for 20 minutes. There are people everywhere watching. I was trying to kill myself, basically. And next thing I know, wake up three days later in the hospital bed. And I had a big problem. And you learned a great lesson. I learned a great lesson. I needed help. I couldn't do it on my own. So I went to rehab for two years. Let's go no longer around and coming to Georgia. So that's why we make a lot of jokes. I remember what it was like, but yeah, we've been sober for, it'll be 16 years in July. 16 years. Long time. Congrats. But yeah, there's no footage of that. I've looked it up a lot of times. That's probably may or may not have been wearing any clothes. I'd throw it out there. I may or may not have been wearing any clothes at all when that was going on.
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"Good comment there. What about the New Zealand prime minister stepping down? I was so happy to see her resignation. Yeah. Yeah, she deserves it. You know, the country's not happy with what you did during the last flu season. Deal with what you so. Enjoy. We got neo scooter says, oh dang, Scott minerd is dead. He is dead. And I don't know what, what is this thing about when people die that suddenly you're supposed to be respectful towards them? What is that? What is that about? When Hitler died, do you think people were like, well, now, you know, he died. He shot himself very sad, very sad. Let's look at all the great things that Hitler did. Look at all the great things that he did. Uh, he led Germany and blah blah blah. He gave great speeches. Yeah. No, no. You don't say that about Hitler because he's dead. I refuse to let up on Scott minerd because he's dead. Right. I refuse. If Jamie diamond dies tomorrow, I'm not going to talk about the good things that he did. I want to remember the legacy of these wretched villains and criminals in our traditional financial system. I want to honor the people by still continuing to speak truth about who these people were. Just because they're dead, they don't get a pass. In reality, that lets us look at their entire body of work. And say, oh, well, actually, he had no redemption at the end. Maybe some of these people, maybe Jamie Dimon. Maybe he can have a moment of truth where he realizes the criminal organization that he runs. The Ponzi scheme that he runs. And maybe by the end of his life on his deathbed, he may recant and say, you know what, I regret. Scott minerd, he didn't do that. So no. He doesn't get a pass. Nobody gets a pass because you die in this channel. I'm sorry. Including me. If I die, do not give me a pass. Talk about me as I am and I was. That's just what it is. And maybe we ever forget that they were ever our countrymen. There you go. There you go. Okay, explain our looming U.S. debt ceiling fight is starting to worry investors, because I tweeted, what have I told you there is no debt ceiling? Because it really is, they just make the number up. They do whatever they want. They'll just change the numbers. Joe Biden changed numbers on what is a recession. You know, you just change the numbers, no big deal. The United States will hit its mandate $31.4 trillion borrowing limit on Thursday. Forcing the treasury to launch extraordinary cash management measurements that can likely prevent a debt default into early June. Uh, look, here is here it is. Look at this. Look at the scariness. Is this scary
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"Faking an arrest at a protest where police are literally involved in it during Davos during the World Economic Forum. Guys open your eyes. You're not getting the full truth. And that's what all I care about is I just want people to get the full truth. And I want to watch my trade and I want my trade to go in the positive. That's the other thing. So if you guys see me looking down here, it's because, you know, that's where it is. All right, go on CNBC hosts. I mean, of course, we know Andrew Ross Sorkin, one of the biggest scammers in the history of mankind. So she must be friends with AOC. Look, I'm sorry, I like AOC. I love her. I'd have her on the show. I think she's great. No, I don't agree with her politics, but I think she's great. I don't know why I like her. Why do you think I like her? Is it because did you go to Harvard as you go to Yale, where'd she go? She's got good hair. She doesn't have nice hair. I like the glasses look. I like when she wears a glass. Yeah. The glasses makes her a lot less intimidating is not the right word. Much more approachable. So I think AOC is really funny on social media. I don't think she means to be, but I think she is. And I don't know. I don't hate her as much as I hate Elizabeth Warren. That's what I'll tell you. I don't know why. Okay. Check this out. Here we go. Speaking of scammers, we got Andrew Ross Sorkin talking to Jamie Dimon here. Let's go ahead and hit the play here. Are we going to watch this whole clip two minutes? He spills the beans. I was watching 15 seconds, but we pretty much. I don't think we talked to you. I think all that's been a waste of time and why you guys with any breath and it's totally beyond me. Because you just think the whole thing just is going to zero. Go to zero and it's fake. Bitcoin itself is a hyped up fraud. The pet rock. You're back to that. Really? Of course, yeah. So what do you make of BlackRock and other firms that are investing in infrastructure? That's different. Blockchain is a technology ledger system that we use to move information. We've used it to do overnight intraday repo. We've used it to, we're going to use it, we've used it to move money. So that is a ledger. That's a technology legislative type of thing that we think will be deployed. We remember we've been talking about that for 12 years too and very little has been done. That's some tokens that I agree with you. But Bitcoin is based on a distributed all the characteristics of a store of value. It's immutable. It's scarce, it totally untrue. 21 million. How do you know it's going to stop us 21 million? Because I mentioned everyone says that. Well, maybe it's going to get to 21 million in satoshi's picture is going to come up and laugh at you all. So I'm going to make it a lot more comments about this layer tonight. So make sure to come back for our 10 p.m. video. I'm going to make comments
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"Out credit lines that crypto institutions. He's the new JPMorgan. Back June 22nd, did not play well, absolutely not. He looks like he has gas pains. I can see him. I can see it. I can see it. Like others, Kramer also believed that collapse would trigger a broader crackdown from authorities who would soon perform a sweep. Guys, these people that are all sold out that there's some kind of gigantic sweet coming for crypto. Right. That binance is going down and tether is going down. I don't think there could be a little something with tether, let's see, said 55 55 weekly, you may, okay, I'll keep an eye on that. You can always be able to, they want it. Their doomsday is they want the price to drop dramatically. That's what they want. That's what they're after. They want to see everybody fail. They want to see everybody lose money. They want to see binance go down. Their doomsdays. But guys, that's not coming. I do think there's a little something with Dan friedberg to watch when it comes to tether and Deltek bank. I think there is something to watch there. Something to say, but there it is. So let's see. Robert, when we were at 60 K BitBoy still come for a hundred K when savvy would go back up when savvy was calling for the drop. I'm just calling it, like I see it. That's true. He was saying that. Give him credit for that. But he also said it was going down in the middle when we had a new all time high. Yeah. So none of us are perfect. We all do the best we can. We all have biases. My bicep bush bullish is a bearish is what it is. You see the news yesterday about genesis filing bankruptcy. We're going to talk about that today. I guess not. Where does that leave Gemini earn customers on the creditor's list? Any guess, not sure, but yeah, I've said for a long time, if you are on Gemini Ernst, you are probably not getting your money back. Yeah. There's just no money there, unfortunately. Jamie Dimon says rates will rise above 5% because there's still a lot of underlying inflation. JPMorgan, CEO, let's see. Do we have, do we have this might be the next tab, the video? Oh, it is. Okay. JPMorgan says, Jamie Dimon says he believes interest rates will go higher than what the Federal Reserve currently projects is inflation remains stubbornly elevated. Stubbornly elevated. Diamond said the recent easing of inflation comes into the temporary factors such as a pullback in oil prices. He said the U.S. if the U.S.
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"How many people we have watching today? We got 4300 right now. 4300, man. We need a lot more than that. We need another fake DoJ release tripping everyone out. Tripping everybody out. Ben yawns a lot. I would highly disagree with that. That's not true at all. We used to have some high E people in the building. They're gone though, but let me tell you the low teeth. We don't mess around with low T around here. Okay. If you take it slow, you just go get some more. That's what you do. That's right. Okay. All right, Bitcoin crowd sentiment touches. I mean, look, the cinnamon has changed dramatically here recently. According to data from santiment, trading crowd sentiment is such its highest in 6 months and second highest bullish sentiment, once it was a price doing right now, just trying to take a look at it. In the past 14 months, data indicates that traders are treating Bitcoin's price rebound is a signal of a possible bigger breakout in the near future. You guys can see here, this is from, those are more horn hairs. Old horn hairs, I don't know this guy, but I sure do like that name. Yeah, I do too. Yeah, it's a great name. It's got you. It is. Let's see, Bitcoin, bull market, 1064 days, the bear market 360 four. 1064 days, current market low, 364 days exactly pretty much. Carbon copy of the last cycle, I told you guys again. I mean, look, there's a reason why we talk so much about these cycles. I mean, they're the only thing in crypto that have ever actually bared to be true. No pun intended there. Right up to the top and the bottom with prior cycles looks surprisingly similar when examining the long-term price action of Bitcoin. So more trees, 28 21 tigers to follow a similar trend. It's almost like somebody's been telling you that. Yeah. For 5 years. Who? You? Oh, me. Oh yeah, it was me. You're right. Studies, 64% of north Americans invest in crypto without any research at all well. This is shocking. This is shocking. Guys, this is why I tell you all the time. You're not early investing in Bitcoin. I'm sorry. You're not early investing in crypto. You're early understanding it. That's why you got to get the book catching up to crypto. You get this book. You get set so far ahead of everybody else because nobody's paying attention, okay? Nobody's paying attention to what they're putting money in. They're just throwing it in there. So let's see. Bit squad can get a two for one for free in D.C.. Just registered with you crypto stevo coming to the book tour. So there we go. I have been in Washington D.C. in a long time. I've been watching ADC and 18 years, I think. Washington D.C. all right, here we go. In particular, 64% of North American investors spend less than two hours or don't do any research at all before making a crypto investment. According to bybit and Tully's crypto investment literacy report, how much time do you spend before investing in a crypto project or trading a new coin?
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"Ominous announcement by the Department of Justice. Take it with announcing international cryptocurrency enforcement action. And guys, let's face facts. It was one of the largest nothing burgers ever in the history of the world. And which, by the way, I do have to say, so in fact, check me, I did say I hate the phrase nothing burger. It is true, and then I used it a million times. Yeah, get over here. We all know that scorpion. Yeah, we all know that. Killer instinct was the game? Liu Kang, I would crush you. You try to bicycle kick me? I'm a freeze you in the sky. Uppercut you. It's over. It's over for you to go watch this stuff again. It's been years. All right, Bitcoin can pass 30 K before setting new bear market low. Hey, that's exactly what I've said can happen. Well, no, I don't think it was set a new low, but it came past 30 K and then come back down. Bitcoin may gain another 50%. You see, they need narratives like this. You need narratives like this. So people still believe that there's going to be a new low, right? Because you got a lot of these people that are saying that there's not going to be, you know, we're definitely going to ten to 14,000, but now that Bitcoin's hit this rally, it's kind of hard for them to look and say that because we've got well above that $15,000 range now. So I mean, we're $6000 above it basically. Or yeah, there are about 5000, 6000, depends on what day it is. So you're having people now say, oh, well, we can go so far and then come back to newspaper real quietly. The crypto savvy, but real quick. Oh yeah. Been real quiet. Everybody's going for that new low in January. Don't they it's coming. Wendy O uses that face. Wendy says it, then I guess I got to retire it. I guess I got a retirement of Wendy's. At least savvy's building the house though, for himself. I mean, good for sale. I
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"This should be fixed immediately and customers should be compensated. I've called out serious fraud issues on zell. And this is their latest failure. Very, very, very interesting. I'm glad. I'm glad people see this. What bad check fee, your age is showing again. That's what it's called. Yeah. Is that what it's called? Pretty sure that's what it's called. What else is it called? Bad check fee overdraft fee. Whatever. Same difference. No, no, I'm talking about showing my age. I write checks. Yeah, right. Checks in, cash them. Son, get on my face. Okay, all right. Moving on here, let's head to Twitter here. Check out BitBoy crypto on Twitter, which by the way, we did pick our new we did pick our winners for the clean contest yesterday. And they did all go through. So, you know, 5 books, all these people have been contacted and of course three people won the crypto. But I did want to highlight this real quick. If you are coming to any of the stops on the book tour for catching up crypto, make sure to RSVP. And each day that these occur, we're going to go ahead and put something out on social media for you guys to sign up for the eventbrite, specifically. But if you click here and you go down to the bottom, which by the way, this time on Los Angeles has changed. This is now like, I think two 30 to 5 30. We got to get that update on the website. And I'm not sure. I think we have the Boston location too. So maybe I need to clear my cash. I'm not sure. But if you click on these individual cities, if you click on San Francisco, you will go here and it will pull up the eventbrite and you guys can fill this out, it's actually in San Jose is actually where this is going to be. It's in San Jose. It's a little south of the city there.
The Bitboy Crypto Podcast
"jp morgan" Discussed on The Bitboy Crypto Podcast
"So, all right, so that is what occurred at Bank of America now. Supposedly, the problem here is that's a real issue that happened and they were 2500 customers that happened to. It was, let's see, here it is. That's our book tour. Bank of America says the problem is with Zelle and it is now resolved. I'm here to tell you guys, I would not be using Zelle. Zelle, everybody's using all the banks are using it for payments. It seems like it might be a bit of a Ponzi here, guys. If we talk about people wanting to do a bank run going into the bank and actually taking all your money out and we all know it will happen if you do, basically all the banks in America would collapse because they don't have the money because they're all Ponzi schemes. Zelle is the Ponzi within the Ponzi. If you think about it. So I would be very careful if you guys have money on zell, so grenade master says, I feel your anger, but don't be surprised to bestseller lists have always been rigged. So obviously a lot of the people that make the bestseller list, they buy their own books. I don't know if you guys know that. That's a thing that people in the book world do to buy their own books. We didn't buy any of our own books. All of our books were a 100% organic, bought by people here at the bit squad. And, you know, it is what it is. I really believe within two years, we're going to pass the Bitcoin standard as the number one bestselling book of all time in crypto. And we're going to get our due and we're going to get that. Everybody who has read the book loves it. It hit the exact tone that we wanted it to hit. But, you know, so how is Zelle a Ponzi? Well, banks by nature are Ponzi's, right? Because if we all went to try to get all the money out, it's not there. So if you think about Zelle, what zel really is, is it's a way for you to pull money out of banks and send it somewhere else. But at the end of the day, that money's got to go from Zelle into your account. So if everybody goes and withdraws all their zell money at the same time, all that money's got to get transferred into banks at the same time to different banks, by the way. Is the money there to do that? I don't know. It's a great question. I think that if you look at, okay, so here is one thing that a lot of banks do to control the money in the banks is they make it where you can only spend so much. So I have a credit union, right?
Coin Edition
JP Morgan Buys a 48.5 Stake in Viva Wallet for Over 800 M
"11 a.m. Sunday, December 18th, 2022. JPMorgan buys a 48.5 stake in viva wallet for over 800 M the American multinational investment bank, JPMorgan has reportedly sealed a deal to buy about 48.5 stake in viva wallet for more than 800 million. As per reports, the stake would be acquired from Athens based payments FinTech firm viva wallets minority shareholders. The shareholders include the latsis family office, which has around 13 of the. The post JPMorgan buys a 48.5 stake in viva wallet for over 800 M appeared first on coin edition.
CoinDesk Podcast Network
JP Morgan Believes Centralized Crypto Exchanges Will Remain Dominant
"We are going to start the show off with a bank report. It's been so long since I've had the chance to troll will with one of these. So here we go. JPMorgan analysts say that centralized crypto exchanges will remain dominant despite FTX is collapsed, which contradicts some crypto native figureheads who predict a shift towards DeFi platforms in the wake of FTX implosion. The analyst cited an absence of a limit order stop loss feature on DEXs dependency on price oracles that source data from centralized exchanges, hacks and exploits as some of the reasoning. Zach, I'm going to kick it off to you for your thoughts on this bank report. Before will foxley dunks on this poor bank analyst and calls him a midwife. I will stand up for this report and I believe that this is right. Humans have a long history of entrusting other people to do complicated things for them. And sometimes being your own bank sucks, and sometimes yield farming out on the wilds of DeFi also sucks. And that's why we saw firms like Celsius and others leverage some of these DeFi protocols to give lazy users some of that sweet, sweet yield. And I think directionally, if that's the argument that's being made here, directionally that point will stand. And I think despite all of the chest dumping that this is DeFi's moment, I think probably those are pretty stiff like stiff human headwinds to overcome, right? That desire for laziness for entrusting others to do things that, you know, can be tricky, especially in crypto with self custody assets.
Blockonomi
JP Morgan Applies For Crypto Wallet Trademark Registration
"9 a.m. Wednesday, November 23rd, 2022. JPMorgan applies for crypto wallet trademark registration. It's been the same old story since the dawn of crypto. The problems of dualism and finance always spot on major banks and cryptocurrencies and how traditional finance institutions hate digital assets. Jamie Dimon, JPMorgan CEO, and chairman made a clear previously that he was not a fan of Bitcoin. While diamond has a the post JPMorgan applies for crypto wallet trademark registration appeared first on block anomie.
Crypto Camel Podcast
"jp morgan" Discussed on Crypto Camel Podcast
"And <Speech_Male> <Advertisement> <SpeakerChange> trademark <Speech_Male> office USPTO <Speech_Male> approved <Speech_Male> the <Speech_Male> application by <Speech_Male> JPMorgan and <Speech_Male> chase on November <Speech_Male> 15th. <Speech_Male> The wallet <Speech_Male> will offer <Speech_Male> services like virtual <Speech_Male> currency transfer <Speech_Male> and exchange crypto, <Speech_Male> payment <Speech_Male> processing, <Speech_Male> virtual checking <Speech_Male> accounts and financial <Speech_Male> services, <Speech_Male> <Speech_Male> and <Speech_Male> JPMorgan <Speech_Male> <Speech_Male> goes deeper <Speech_Male> into the cryptocurrency <Speech_Male> scene. And <Speech_Male> despite the controversial <Speech_Male> stance of <Speech_Male> the CEO against <Speech_Male> Bitcoin and cryptocurrencies <Speech_Male> in general, <Speech_Male> the bank <Speech_Male> continues to bet on <Speech_Male> crypto related <Speech_Male> products to <Speech_Male> streamline its transactions. <Speech_Male> <Speech_Male> In early November, <Speech_Male> they took a <Speech_Male> big step <Speech_Male> by completing <Speech_Male> their first <Speech_Male> cross border <Speech_Male> transaction using <Speech_Male> polygon. <Speech_Male> A layer two <Speech_Male> scalability solution <Speech_Male> for the Ethereum <Speech_Male> network, <Speech_Male> we all know and <Speech_Male> love polygon <Speech_Male> in the late <Speech_Male> October <Speech_Male> 2020. <Speech_Male> The bank analysis <Speech_Male> the launch of <Speech_Male> its JPMorgan <Speech_Male> <Speech_Male> stablecoin <Speech_Male> was in JPM <Speech_Male> coin. The <Speech_Male> first cryptocurrency <Speech_Male> to be <Speech_Male> backed by U.S. bank <Speech_Male> used <Speech_Male> to send cross border <Speech_Male> payments. <Speech_Male> Demonstrating its <Speech_Male> position in favor of <Speech_Male> crypto innovation <Speech_Male> on the <Speech_Male> same day, they launched <Speech_Male> Onyx. <Speech_Male> The world's first <Speech_Male> bank line blockchain <Speech_Male> platform <Speech_Male> to develop innovative <Speech_Male> products <Speech_Male> platform and marketplaces. <Speech_Male> <Speech_Male> And although <Speech_Male> the trademark registration <Speech_Male> of the JPMorgan <Speech_Male> wallet, <Speech_Male> that's what it's called, <Speech_Male> shows <Speech_Male> that the new digital <Speech_Male> <Advertisement> wallet will be used to <Speech_Male> <Advertisement> process <Speech_Male> <Advertisement> cryptocurrency payments. <Speech_Male> It does not <Speech_Male> elaborate <Speech_Male> on which cryptocurrencies <Speech_Male> will be allowed. <Speech_Male> <SpeakerChange> <Speech_Male> <Speech_Male> Now, <Speech_Male> if there's a need, there's <Speech_Male> an opportunity. We all <Speech_Male> know that. So <Speech_Male> since 2017, <Speech_Male> <Speech_Male> JPMorgan <Speech_Male> CEO <Speech_Male> has maintained <Speech_Male> a radical stance <Speech_Male> against Bitcoin. <Speech_Male> And <Speech_Male> cryptocurrencies in general. <Speech_Male> And he basically <Speech_Male> called them fraud <Speech_Male> and investments <Speech_Male> worth and tool the <Speech_Male> bulbs to <Speech_Male> the point that he would <Speech_Male> fire any JPMorgan <Speech_Male> <Speech_Male> trader dealing <Speech_Male> with cryptocurrencies. <Speech_Male> <Speech_Male> However, the banks <Speech_Male> board <Speech_Male> has other plans for <Speech_Male> cryptocurrencies. <Speech_Male> In <Speech_Male> early 2021, <Speech_Male> JPMorgan <Speech_Male> co president <Speech_Male> Daniel Pinto <Speech_Male> said <Speech_Male> that the bank was <Speech_Male> willing to get involved <Speech_Male> with Bitcoin and <Speech_Male> cryptocurrencies <Speech_Male> if demand continues <Speech_Male> to grow. <Speech_Male> And they have been <Speech_Male> proving so <Speech_Male> despite the bear market. <Speech_Male> So <Speech_Male> although in <Speech_Male> 2021, the <Speech_Male> best year for Bitcoin <Speech_Male> in terms of price, <Speech_Male> which <Speech_Male> that's when we saw <Speech_Male> the all time high <Speech_Male> of the 69,000, <Speech_Male> <Speech_Male> <Speech_Male> basically <Speech_Male> the crash <Speech_Male> was enough for <Speech_Male> Jamie Dimon <Speech_Male> to double down <Speech_Male> on this argument <Speech_Male> that <Speech_Male> Bitcoin was a fraud. <Speech_Male> And despite <Speech_Male> all the negative <Speech_Male> news surrounding <Speech_Male> the ecosystem lately, <Speech_Male> <Speech_Male> basically we had the collapse <Speech_Male> of terror, <Speech_Male> we had <Speech_Male> bankruptcies, <Speech_Male> multiple hedge funds <Speech_Male> and cryptocurrency exchanges <Speech_Male> like FTX, <Speech_Male> a Bitcoin <Speech_Male> has been down. <Speech_Male> The community is <Speech_Male> still willing to <Speech_Male> use its tokens no <Speech_Male> matter how much FUD <Speech_Male> they hear. <Speech_Male> So <Speech_Male> what did that <Speech_Male> tell you? Well, <Speech_Male> it's not all <Speech_Male> bad news. <Speech_Male> If you have big institutions <Speech_Male> like this that <Speech_Male> are still willing to <Speech_Male> get into the game, <Speech_Male> <Speech_Male> then <Speech_Male> we have <Speech_Male> a huge potential coming <Speech_Male> up.
Crypto Camel Podcast
"jp morgan" Discussed on Crypto Camel Podcast
"In an unrelated matter to FTX, yet another bad thing has happened in the market. And a bunch of scammers basically, so if you've heard of hash flare, is founders were arrested in a 575 million fraud scheme. So the hash flower founders have been charged for their alleged involvement in a crypto fraud and money laundering conspiracy. The two founders of the now defunct Bitcoin cloud minor hash flare have been arrested in Estonia. Over the religion involvement. Basically a 105 $175 million is what they're being accused of defrauding and conspiracy. Half flare was a cloud mining company, which was created in 2015. It basically purported to allow customers to lease the company's hashing power in order to mine cryptocurrencies and gain an equivalent share of profits. The company is basically seen as one of the leading names in the business. At the time, but it shut down a large portion of its money operations in July 2018. However, according to a statement from the United States Department of Justice, basically the court documents were citing that the entire mining operation run by founders Sergey put the Panko and Ivan tour again was part of a
Crypto Camel Podcast
"jp morgan" Discussed on Crypto Camel Podcast
"This was the information that was submitted by FTX as part of its insolvency proceeding. So needless to say, this is affected the entire crypto market with users showing less interest in the positing their funds any further. So following the FTX crisis, there is concern that any other platform will declare liquidity crisis and lock its funds for an indefinite period of time. So FTX wasn't able to meet the withdrawal demands and it caused panic and it calls it on many different platforms. Bitcoin right now it's dropped significantly from its all time high. And FTX basically the worst in this concern by contributing to a further decline in its one week value. So Bitcoin basically was trading today at 15 8 9 7. Which is a 3.6 decrease in Ethel to 1120, which is a 7% decrease. And this is the eth is largely due to some of the eth that's being moved around that was hacked and stolen from FTX. But the overall crypto markets lost over 260 billion. And binance is basically willingness to liquidate the FTT tokens through the acquisition of the companies, non U.S. operation was formerly viewed as a way out of the enterprise. Now, FTX is presently attempting to restructure the so called empire. However, gaming's everyone's trust will be tough and less crypto ventures band together to support the revisions. There's little clarity regarding the end of the FTX crisis. And basically, the market is kind of in a wait and see mode to determine if any other entities are in danger of collapsing. Creditors and investors, well, they've all turned out to be the biggest victims of the crisis. And with millions stuck in the now bankrupt network. And in addition to this, there's reports claiming that a hack, which has, as I told you, but now 477 million is the latest number. It's set to be put into the market. And this is further driving the market down today. And the latest for the FTX contagion is genesis, which genesis says they're going to go bankrupt without fresh funding. So there's still yet to receive this critical investment to recover from the FTX collapse. And now they're considering to be insolvent and genesis, which is the crypto brokerage platform that froze withdrawals last week. They may result to bankruptcy basically if it fails to raise money from the potential investors. This is according to people that are familiar with the matter. So and it was reported on B and B and then Bloomberg that genesis has spent the last several days attempting to raise $1 billion in capital from potential investors. This backs up a Wall Street Journal report on Friday which claimed the training firm was unsuccessful in its endeavor. Bloomberg stated that genesis wasn't talked with
The Charlie Kirk Show
JP Morgan Chase Cuts Ties With Kanye West
"I told you that the bank that you use might just be able to deactivate your account at any moment. This is one of the reasons why at turning point USA we've been moving all of our funds away from JPMorgan Chase. You should never use JPMorgan Chase because yesterday, JPMorgan Chase comes out and they have cut all ties with Kanye West. They say we don't want your business anymore, which I can't imagine would be a good business decision to cancel a guy worth $2 billion. And look, you might not like what Kanye had to say recently, I certainly believe he could have said it differently. I don't even know what he was trying to say, but I met Kanye years ago. He's a good person. He's a creative person. He's a Christian and he's brought a lot of people to the lord with one of the best selling best performing Christian music albums ever, and there's very good things in there. There really is. And people slander him and they attack him in all this, but you have to understand Kanye's a creative mind. He communicates differently. And that's for whatever reason why JPMorgan and sends him a letter where JPMorgan says, dear Ye, we're sending this letter to confirm our recent discussion that JPMorgan Chase has decided to end its banking relationship with yeezy LLC. Now, it's so amazing to me. Is that I was told for years by the market Puritans, which I love free markets. That's great. That companies will never do anything that is not in their profit interest. This is not in their profit interest. This is in their political interest. They tend to lose millions of dollars in fees and commissions to close the yeezy LLC to provide the company with sufficient time to transition. We will obviously keep your account open for another month. By the way, I know of at least ten conservatives. Ten conservatives that have been canceled by BOA by Wells Fargo and JPMorgan Chase in the last couple of days. At
The Readout Loud
"jp morgan" Discussed on The Readout Loud
"A hotel already? Had the hotel, flights, the whole thing. I mean, you know, obviously the corporate, the corporate travel agents are taking care of all that, but yeah, I had to cancel. Okay, we should probably explain why we're talking about this. Yes, so Adam is not alone in canceling his travel to San Francisco because as we learned this week, JPMorgan, the by far the biggest conference, I think, on the calendar, for BioTech every year, finally relented and is no longer demanding that anybody who wants to present at their conference in January attend in person and it will be virtual. So we're recording this on Thursday and that's perhaps an unsurprising bit of news for anyone who wasn't tuned in, but the sort of breadcrumb trail to this point was, as we learned earlier in the week, major companies, including Amgen and Moderna, pulling out of the JPMorgan conference over the bank's demand that they attend in person for the very understandable reasons of one, not wanting to put their employees at risk by shipping them out to San Francisco into the cramped hallways of the Westin Saint Francis hotel where JPMorgan is held while case counts are rising in amaron is frightening everyone, but then also the sort of zooming out, reputational risk of being a healthcare company that contributes to what could have become a super spreader event. So, you know, we reported earlier in the week about Amgen Moderna and other companies to rep to Therapeutics, pulling out of the conference and a few other firms, including vertex pharmaceuticals and Long Island pharmaceuticals, considering doing the same unless Jamie Dimon and his merry band of executives relented and made the conference virtual and then we learned on Wednesday that they will indeed do exactly that. And we should note, I think you were sort of modest in your description of that. You guys broke the story that those companies had pulled out. And that there were multiple others making the same, not even veiled threat. I mean, they were saying, give us a virtual option, or we're not going. And it just happened so fast, and there were such a narrative that Jamie Dimon the CEO of JPMorgan was one of the biggest proponents of in person work experiences that he was not going to make this switch. And it quickly moved from not just give us a virtual option to completely virtual and I have to wonder how much does all of this omicron modeling fit into this is now people are expecting it to peak in mid January, essentially right when the JPMorgan conference is happening. Yeah, this did feel kind of inevitable, like they were going to have to make this decision anyway. And maybe our story kind of made it happen a little bit faster just because once it became public that some of these really big companies, right? I mean, Amgen and Moderna are big, big companies. They hold sway over the industry. So when they sort of come out and say, we're not going. I think it gives sort of license for a lot of companies to kind of make the same decision and that just forced JPMorgan's hand. Speaking of other big BioTech news of the week, rob caliph, the FDA commissioner nominee had his Senate confirmation hearing. I think one of the biggest takeaways is even Meg you pronounce his name right. Right. You'll never be a missionary. And his name was pronounced so wrong by so many of these senators. Roll clip. Doctor Cahill, enjoyed our conversation in my office, not too long ago. Doctor Cal, thank you for your continued willingness to serve the country. So I'm wondering if you could, doctor Carter, could you based on your experience? What do you think about this idea? And thank you, doctor Khalifa for being here. So I mean, I guess the headline is that his confirmation hearing was pretty banal and thus suggesting that he will sail through the confirmation, which is perhaps unsurprising, but there were a few outstanding questions as to how the Senate, which has been pretty fractious. Since Joe Biden got elected president, would receive him. So there you go, there's your news. More importantly, Meg I agree with you. A lot of our elected representatives have just not committed a lot of time to basic reading comprehension and articulation. I don't know, maybe there's not much of a read through there, but I guess that moment was a little sobering, I think, for me, because I have spent so much time thinking and we've spent so much time on this podcast talking about the vacuum of leadership at the FDA and what it means for the pandemic and the drug industry and all these things, and then you tune into that hearing and not only were the senators not particularly emotional about opposing rob Kayla from getting this job, but also not particularly committed to learning how his name is pronounced. And so it reminds you of how small your little corner of the world can be sometimes. So Meg, as you mentioned at the top of the podcast, this will be our last episode for the year. So it's a good opportunity to kind of think about or reflect on BioTech 2021. And I wonder, what are your takeaways sort of non COVID takeaways? Well, I did spend 99.9% of my year covering COVID. So I'm probably not the person to top that question too. And the other .1% of my time was covering your scoops on Biogen. I will say just to round out this week in BioTech conversation and then I'll pose the question to you guys. There was a lot of news on COVID this week, too. I mean, Pfizer had the final results of its antiviral pill for COVID. And of course, this is expected to hold up against doma Kron so a lot of hope there. And the final results were exactly the same as the interim results, 89% effective in preventing severe disease hospitalization or death. When given to high risk people within three days, that is really important because Albert bourla, the CEO of Pfizer had indicated the FDA was waiting on the final results before potentially clearing this drug because Merckx drug results changed so much between the interim and the final going from about 50% down to 30%. Curiously, we still haven't seen the FDA act on emergency use authorization of Merck's small new peer review, even though it's AdCom, was November 30th. And it did get that positive vote although it was close. So are we going to see them clear Pfizer's drug first? It doesn't appear that they've scheduled an AdCom for it. And Pfizer CEO has talked about it potentially being available. This month. So we're talking about the next two weeks. And I think a lot of people are really hoping we can get this kind of drug out there and get people tested quickly and give them access to it as we are just facing this enormous surge, potentially coming from omicron on top of delta, which is really scary. Okay, we can talk about non COVID stuff. What was the biggest takeaway from the year for you guys? Other than Biogen. Well, yeah, I guess we have to say Biogen, but maybe that's all we really have to say because we've spent so much time talking about Biogen, but you know, again, sort of objectively Biogen and the approval of adjective mab or adre helm in June of this year. You know, was probably the biggest, I would say, Damien, don't you think that's probably the biggest non COVID BioTech story of the year? I mean, yes, but I have no sense of scale. Because we basically it's all we've done. Really interesting thing is that we've seen the power of BioTech demonstrated through this pandemic. We didn't talk about the Regeneron news that came out Thursday morning, which is that their antibody drug looks like a loses potency against omicron, but they've got others behind it that will hold up. And we just have to see how quickly those can get through the regulatory process and through proving that they work. But as BioTech demonstrated that, the rest of BioTech that's not in COVID has had a really rough year. Like, what happened at him? Oh yeah, it really, it's been a terrible year for sort of like you said non COVID by tech. If you just look from a stock perspective, you know, if you were not sort of directly involved with vaccines or Therapeutics against COVID, your stock is probably down a lot. And so I think that points to just a lot of sort of structural things that got in the way of BioTech and I think need to be sorted out over the next year or two, you know, I mean, Damon, I know, we've been talking about this, you know, the number of IPOs that were out there just the flood of companies that have come public so many of them still preclinical early early stage companies..
The Readout Loud
"jp morgan" Discussed on The Readout Loud
"Helen, you had a great story again this week. And I'm just going to read the headline because they're basically says it all. Will we always need COVID-19 boosters? The answer, the short answer to that is no one knows for sure at this moment. But, you know, the longer answer is that when I talk to a bunch of immunologists vaccine ologists virologists, it's not a given that we're going to need endless successions of boosters and it remains to be seen what happens with the development of variants and whether those variants can get to the point where they can completely escape immunity and really infect huge numbers of people and cause serious disease, but from what we're seeing so far, the vaccines are doing the job they're supposed to, they are arming people with, you know, the types of immune immunity weapons that we need to be able to encounter this virus and have it potentially infect us, but not kill us. Or for that matter, put people in the hospital and to that point Anthony Fauci was speaking publicly on Wednesday. After some new data related to the Moderna vaccine, but the just seem to be that to your point and I'm cribbing from your story that booster shots and vaccination in general is their educational tools for the immune system in ways that go beyond just neutralizing antibodies. It appears that people learn how to protect their people's bodies, learn how to protect themselves against this virus in ways that are beyond what we have tended to focus on in terms of measurable efficacy, right? Yeah, that's correct. I mean, the immune system is multi layered. We tend to focus most on neutralizing antibodies because they're the easiest thing to measure. And it has become clear over the months since COVID vaccines have been put into use that high levels of anti neutralizing antibodies sort of equate to protection against any kind of infection and as those neutralizing antibodies start levels start to decline. You can actually start to see breakthrough infections. But, you know, the other arms of the immune system are still there and kick into gear and those are the parts, you know, the B cells that generate new antibodies and the T cells, the killer T cells that also engage in find infected cells and destroy them. Those parts of the immune system seem to be still working strong at what Doctor Fauci said yesterday about the Moderna vaccine and officials that are scientists at a press conference that the World Health Organization held said is that, you know, they're still seeing that the protection generated by those layers of the immune system seem to be working well still against omicron, which is good news because there's abundant evidence now from trial studies that have been conducted very, very quickly that omicron does seem to be able to get by a lot of the protection offered by neutralizing antibodies. You know, sort of along those lines, just taking stock of where we've come in the past year, thinking back to this time in 2020, we were all just watching the first people get vaccinated with the Pfizer vaccine. We were anticipating the Moderna rollout. We were counting how many doses were available in trying to figure out where they were going and whether half the stock was being held back as second doses and there were all these arguments over it, but universally public health experts were cheering on the vaccine and they were all in the same page. And it's not that they're not cheering on the vaccine now, but there's this divergence among some experts about booster shots, namely, you know, folks like doctor Paul offit at chop, who is this renowned vaccine expert in scientist and who's public health opinions, I value very much who says we don't need booster shots because the two doses hold up against severe disease. And he holds that position, even with omma Kron's additional ability to escape the vaccine protections. I'm just wondering how you Helen is a journalist I look up to so much like when you see people who have such experience diverging to this extent, how do you reconcile those kinds of things as you do your work on this? Thanks, Meg. And I look up to you. You know, when The White House announced in August, I think it was August 18th. Adults in the United States were going to be offered booster shots starting in the week of September 20th. I was like, wait, what? And I talked to a lot of experts at the time. Most of whom thought they didn't need booster shots or at least the evidence was not in yet. That booster shots would be required. I would say that in the subsequent weeks with the emergence of Macron and also just watching the performance of two doses of vaccine in places like Israel that were ahead of other parts of the world. I think the ground has shifted a bit on that. Fewer of the people I talk to now are in the Paul offit camp. Most of them, I think, see the benefit of a third dose. You know, one of the things you have to consider here is the role of the vaccine is obviously to protect the individual, but it's also a hugely important tool for protecting the healthcare system. You know, the whole goal of this other than to keep people from dying is to ensure that the healthcare system doesn't get so swamped that it collapses and can not care for people who've had heart attacks or people who've been in car crashes. And one of the serious dangers of the big waves of COVID infections is that it puts the healthcare system in a place where it can't do that. And I think, you know, one of the arguments at this point for boosters, especially in the face of a variant as transmissible as omicron is that if you know we're going to have so many more breakthrough infections. It's true that most of those individuals will probably be absolutely fine. And that was always true with COVID. And it will be more true now that a lot of people have two and even three doses of vaccine on board. But when you have a lot more people infected, even if the percentage of people who need care is small or smaller than it was before vaccines were rolled out, you're still going to put huge, huge stress on the healthcare system. And you know, we've seen how parts of the country have struggled to cope with the delta wave, and now to hear that omicron is more transmissible than delta..
Techmeme Ride Home
OnlyFans Reverses Course on Porn Ban
"An abrupt reversal. only fans has suspended. Its october first policy. Change which would have banned porn on the platform after securing when it calls assurances and aims to provide a home for all creators. it's words so j. k. i guess or as the dr patel twitter account snark only fans decided not to ban porn after realizing the company would be bankrupt without it and quote or as austin reef tweeted. This could have been the marketing stunt of the year. Quoting business insider. Thank you to everyone for making your voices heard only fan said in a statement wednesday we have secured assurances necessary to support our diverse creator community and have suspended the planned october. First policy change only fans stands for inclusion and we will continue to provide a home for all craters it added. The company had planned to ban the content starting october first and only fans representatives said. The change was planned to quote comply with the request of our banking partners and payment providers. End quote sex workers had told business insider that they were quote angry and confused by the change. They're giving us less than two months. Notice to find a new platform to move all our fans to in an attempt to just survive and keep paying rent. A sex worker named nat cole told insider ceo. Tim stokely had told the financial times that the banks be. Ny mellon jp. Morgan chase and metro bank created what he called. Unfair obstacles to pay craters because of only fans association with sex work. So coakley said in an interview. Tuesday that j. p. morgan chase was quote particularly aggressive inclosing accounts of sex workers or quote any business that supports sex workers and
Bloomberg Daybreak Asia
Elizabeth Warren, JPMorgan CEO Spar Over Overdraft Fees at Senate Hearing
"Senate Banking Committee heard from CEOs of the sixth largest American banks. They were pressed about boosting lending, raising wages and diversifying stuff. Massachusetts Senator Elizabeth Warren noted the JP Morgan Chase made almost $1.5 billion from overdraft last year. She pressed JP moving Jamie Diamond and called him quote the start of the overdraft show. So here's the thing. You and your colleagues come in today to talk about how you stepped up and took care of customers during the pandemic, and it's a bunch of baloney. In fact, it's about $4 billion worth of baloney, but you could fix that right now. FBI See, reports said banks thrive through the pandemic. The industry generated a record $76.8 billion in profits during the first quarter. Democrats wonder why more of that money isn't going to middle class and low income families. They look for more answers. Tomorrow is all street, Sears testified before the House Financial Services Committee. It
CNBC's Fast Money
Elizabeth Warren Spars With JPMorgan Chase Head Jamie Dimon on Overdraft Fees
"The nation's top bankers taking some serious heat today on capitol hill see. Jp morgan citi goldman wells. Fargo morgan stanley and bank of america. Kicking off two days of testimony before congress. And if you wanna taste of how things went down. Check out this exchange between senator elizabeth warren and j. p. morgan ceo. Jamie dimon mr diamond. How much did j. p. morgan collect an overdraft fees from their consumers in twenty twenty. Your i think your numbers are totally inaccurate but blessed temporary public. I also want to point out. We did not overdraft. Can you just answer my question. John anymore than over and how much in fact to jfk mortgage collect an overdraft fees from their customers in two thousand twenty the number. I don't remember in front of me. I actually have. Non exceed three billion dollars. We waived the fees for customers upon request if they were under stress because cove it. But you can fix that right now. Mr diamond will you commit right now to refund a half billion dollars you took from consumers during the pandemic. Not pretty
Men In Blazers
Man United, Juventus, Real Madrid Confirm Super League
"News broke yesterday. That twelve of the biggest teams in europe have signed up for a breakaway super league. Funded by jp morgan. In which six teams from england and three italy and spain will their own competition. A bit like juke. North carolina and kansas announcing a breakaway from much madness in which they guarantee participation every single year and the nomex decision point for european football which will transform the landscape force in large part by american. Ona's along with all the gawks shakes. It's going to create a civil war within the premier league structure. It's almost say it's like a scene from the old scifi show vague where we welcomed the aliens two football teams and they ended up eating all the english people.
The Long Run
James Sabry on Partnering Amid Scientific Abundance
"James sabri. Welcome to the long run. It's great to be with you. So you know james thinking about this interview. I it takes me back to all the meetings that you had at morgan conference over the years You know where you've usually been staked out one of these boutique hotels. I don't remember the name of it actually but It was a cool place. And on the way inner out. I would always bump into somebody in the hall or the elevator and have you know. Spontaneous interactions with some cool. Scientists are entrepreneur. And that is really one of the things that i look forward to a next january or whenever Reconvene in person do you. What do you think when you think about Going back to normal or some semblance of it is. Is that something you look forward to. Or or what are some things that you might do differently. Well you know it's it's interesting. You mentioned jp morgan because at that meeting has got so much Commentary i'd say from the industry in general but maybe a couple of sex firstly as you point out luke. It's a small industry. Biotech still is a small industry. Where you can know. A large percentage of the entrepreneurs of the investors of the people in the pharmaceutical industry and the ecosystem between these three broad groups have been a of investors that provide essential capital biotechnology entrepreneurs who provide these highly focused very nimble Innovative companies that by the way now are producing most of the healthcare innovation on the pharmaceutical side. And then the pharmaceutical people who are the the big endgame for almost all of this right either through acquisition or collaboration and eventually and factoring in marketing and selling all that has to work. And it's such a small industry that we all get together as we as we do at shaping morgan or to some extent or other meetings These chance interactions become important.
Marketplace Minute
Bank Earnings Blow Past Expectations
"Goldman sachs reported net revenues for the first quarter of this year that we're about five billion dollars higher than expected. Jp morgan chases revenues beat expectations by about three billion dollars. Goldman's investment banking and trading businesses surged. J. morgan was able to release billions of dollars. It had set aside for loan
Bloomberg Best
Federal Reserve Bank of Philadelphia president on effect of pandemic on employees
"Indicates many workers are ready to give up their paycheck and say I'm out of here I quit. A Microsoft survey of global workers finds the majority feel they're struggling or just surviving and pandemic work conditions and a large percentage you're considering leaving their employer this year. Same survey shows. Most business leaders feel the employees of thriving Federal Reserve Bank of Philadelphia President Patrick Harker says the problem is obvious. Workers want a feel like they're valued and that they're rewarded for their work. 46% of respondents say they're planning to move to a new location this year, a reflection of the greater flexibility to work from home. 41% say they're mulling leaving their jobs. JP Morgan boss Jamie Diamond says a lot of the problem is remote work, so it's hard to think okay, culture and character and all those things When you have the zoom world, 18 to 25 year olds are faring the worst. Researchers theorize their feelings of isolation or higher because they're more likely to be early in their careers in single, Quite Jared
Bloomberg Daybreak
Bank Stock Rally Shows Few Signs of Faltering
"Other moving higher, Nathan and considering bond yields arising as well. That's not exactly a surprise. You know, it's all about the Federal Reserve's decision to uphold their near zero interest rate policy and to keep buying bonds at their latest meeting, which concluded yesterday. You know you got Bank of America Shares up about 2% in early trading city Group up 1.5% JP Morgan Chase up 2% and Wells Fargo higher by more than 1% alphabet. Though Dan one half percent, its main unit, Google will have to face a lawsuit that accuses the company of illegally collecting data from users of its chrome browser after they opted out. US judge denied Google's initial request to throw out the case. We just got that news just this
Bloomberg Markets
Tech Stocks Sink in Early Trading as Bond Yields Climb Again
"Let's get over to Dave Wilson. Right now. He is in the studio with a look at stocks. Dave We're not seeing a lot of movement on the index is, but what do you see under the hood? Well, I mean, you've kind of got big tack on one side and big banks on the other. That's how things are kind of lining up in early trading. So you look at what's lower in the S and P 500. You see technology Chris Apple Microsoft fitting in their communications services, Google's owner, alphabet as well as Facebook, and then that consumer discretionary category where you find Amazon dot com and Tesla's so you know, that's one side of the coin. The other side's what's going on with the banks. You know, we're seeing Bond yields move up and bank stocks kind of going along for the ride, and we should point out yesterday. KBW Bank Index, which tracks 24, the largest U. S. Lenders, broke a record that had stood since February. 2007. So it's like the banks are finally getting out from under the shadow of the financial crisis. If you look at their share prices, and by the way that KBW index is up 2% today, and we're seeing gains of on that magnitude from JP Morgan Bank of America, Citigroup, Wells Fargo and Maura's, So you know, it looks like You know, we kind of got, you know, the kind of classic on the one hand on the other going on in early trading. And what you get out of that, in terms of the broader market is not a whole lot of direction mean some weakness, But you know, the S and P 500 actually coming off its early lows at the moment. Have to have a guess. What we've seen today is another example of that trade We've seen recently. You know what bond prices trade off interest rates push higher, and that brings the NASDAQ down with it. We're seeing that again today. Oh, yeah. I mean, that's you know, sort of how things are lining up at the moment on them beyond that, though, I mean, you look at utilities in real estate, you talk about the areas most sensitive to higher rates. They're actually up a bit. In early trading. You look at their S and P index is higher by three tents for percent. So you know that's kind of uninterested contrast and you know, they kind of puts them in the metal, arguably between big tank and big banks and big tech
Pat Thurston
Zuckerberg part of $100M ‘California Black Freedom Fund’
"Organizations and corporations have launched the California Black Freedom Fund. It is a five year $100 Million initiative that the group says will provide resource is too black lead organizations in the state aiming to eradicate systemic racism. 25 thunders include philanthropic groups of Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan. Philanthropist Lorien Powell Jobs as well as JP Morgan Chase. The group says the fund aims to address what they call the history of under investment in black lead organizations. Report
The Indicator from Planet Money
Hi Lo Silver
"Taiwan is a director and global markets. At the bank of montreal. He wanted us to stress. his comments. reflect his personal opinions and are not the official position of the bank of montreal. So i asked him to give me his thoughts about the very essence of silver. Sometimes we call in our circles the devils metal because when it moves it can sit for a long time and not wrote but when it moves it can move rapidly and with a certain amount of viciousness fed devils metal sunday commodities trading seems way more exciting than it usually does like the devils metal sounds very treacherous so there are several theories that have been bouncing around the market now a bites spike in silver. And why it happened and who is behind it and let's not forget silvers. Thirteen percent swing oviously pales in comparison to the nearly five hundred percent jump in price that game stop stocks or last week. But that doesn't mean that there weren't any casualties in the silver market. Yes there were winners and losers ryan. I asked tie with a maybe that was the whole point. That like with game stop stock. Some traders might have tried to talk up the price of silver with the aim of hurting some big wall street players who are in the silver market. So that's the first theory and it was one that tired hurt as well. The stories made. It's made its way on reddit. Which one was that j. P. morgan was desperately short Silver and would have to cover. This was a way to get a j. p. morgan which is The biggest bank in the united states that conspiracy theory has been around for a long time. It is also a canard jiffy morgan's one of the biggest bullion banks in the world. They lend lot of metal out but they typically do not lend it out uncollateralized they lend metal but you have to give them dollar so while they may be short metal in a location for a short period of time. It's never anything that could come anywhere near to bringing a major bank to its knees much less. Jp morgan so this was already going after j. P. morgan no j. p. morgan not in in the crosshairs got it so theory to then so those. This bows going around. Maybe some of the short seller's who got squeezed on game stop last week have been trying to distract what ty likes to call the red legions to shift their attention and their money and their trading activity to silver. That seems a little farfetched. I think if you were short. Jimmy and amc Entirely consumed with trying to make sure your position workout. You had enough funding the hold as long as you could. I'm not sure if those would be the folks who would open up another another front in the in the war. So to speak against the raiders. You can't dismiss it completely out of hand but that seems fairly unlikely so this wasn't like the short seller's strike back no okay well we'll maybe not or maybe it was just a bad strike maybe just about strike strike so theory three then that some traders who long silver which means that they own it an expected to rise in price. Maybe they kind of infiltrated the the red at message boards in order to jack up the price of silver so that they could then make some money. Yeah they they were like double agents kind of double agents in the market. Exactly that you know. That is an appealing narrative. If you're if you're long and you are and you're trying to push the market with with news like this even though you could certainly great reddit account and use a vpn and try to keep your anonymity. This would clearly be considered. I think mark manipulation. Now i'm not an attorney but this type of thing that might lend a a clever entrepreneur. A long stay in federal penitentiary in. That's pretty that's a pretty steep price to pay if you're a silver traitor and you join read it and say like hey everybody jump into silver. You literally go to jail. You could literally go to jail so that seems like the stakes are a little bit too high for me. That is a high price to pay for the devils medal and indeed. So it's maybe not that either but the fact is that something did happen to silver this week tie. It was like a combination of rumors and the willingness of silver traders to grasp this opportunity that was presented to them by this price surge the mindset of market makers and many traders are. Oh you want to push it. You push as much as you like and once you're done we'll see where we end up in It will go on it. We'll go on trading and doing what
Bloomberg Radio New York
"jp morgan" Discussed on Bloomberg Radio New York
"Jerry, Thank you so much. We appreciate that, looking at the markets here were kind of mixture with the NASDAQ up, and but we have the Dow off a little bit. Let's see where the action is. With the small cap stocks. We do that with blue mark stocks, editor tables and day what you looking at? Well, I'm not mixed. Let's start there. The Russell two thousand's down 6/10 of a percent while the S and P. 5 500 higher by 1/10 of a percent. The Russell steepest drop belongs to fax or who's ticker is vey xrt, The developer of a covert 19 vaccine has tumbled. 49% study data showed the company shot didn't produce antibodies as existing vaccines do. I terrorist ticker I t eyes down. 13.5%, the maker of traffic sensors posted fiscal third quarter results that trailed Annelise Average estimates in the Bloomberg survey and Crystal Biotech ticker K Wash Our K R. Y s down 8.5%, the drug developer raised $125 million a share sale that was about 25% larger Than originally planned. The sale amounts to about a 9% stake. Now the Russells biggest game belongs to time Technology's took her T Why Emmy? The Drug of Alper is sort of 106% if the winning a US patent for a potential covert 19 treatment and core Matic sticker CRM de is up, 26%. Drug developers higher for a second day after moving its main stock listening to NASDAQ from the N Y Asi es American market. Now core medics rallied yesterday by 32%. Well, some major major shift their day. Thank you so much. That's Dave Wilson at the one Dave on Twitter and do subscribe to his charge of the day by sending in a nice email at the Wilson at Bloomberg Dark net. Now let's get to the I P o market and that includes everything that is back related and direct listing and also things coming down. The pipeline will bring in do singer Who is our I P o reporter. So do we have some word from signify health. Today? It's going to begin trading February 11th. Is this the beginning of a bunch of health care companies going public? Yeah, I think any time you're in this time of year coming out of the JP Morgan Healthcare conference in January, you start to see Ah lot of these healthcare names go public and investment bankers like to build up some momentum. They hope for the full year by starting with some early buzz, worthy names that they believe is gonna have a lot of interest with investors. And they're hoping that these first couple of ideas in this month are gonna Criswell trade. Well, maybe another big pop, and that'll get people excited and generate. You know that fear of missing out that we can see in the I P o market sometimes. Drew. I mean with the markets are at a near all time highs on a daily basis. Obviously, that's great for new equity issuance. What's fascinating to me? Having spent 30 years in the equity markets is our this packs here. We've seen them in various forms in the past, but nothing Like the level we seen them here, You know, almost a third of new issuance in January was through SPAC Steer What is there any concern here? That the use of specs is kind of suggesting a top of the market of frosting? Nothing frostiness in the market that maybe investors aren't doing their due diligence. I think any time you're seeing a lot of IPO's you're seeing that happened, probably what the market is near a top and I think that there's always going to be that type of discussion about are we had, you know is this a broader top for the whole market? Are the signs of a bubble? I know I heard that year after year after year covered ideas over the last five or so years at Bloomberg, and before that, On and a lot of the time keeps on ongoing right up, so it's kind of hard to say, But I think with specks in particular there, there may be less due diligence going on, and I think that might be a team we see emerge. Once somebody's packs get more mature. They make their merger. These these companies go public through SPAC murders and maybe they've been established for I don't know a number of quarters a number of years. Some of these companies are not going to do well. And once we start having some winners and losers coming out of these murders, I think that you're spot on that That's gonna get the discussion here is did public investors Really get a fair look at these companies. You know, I was cruising readiness for a few days this week for some particular reason, and I happened to notice that you know the Pershing Square. The Thanh Teens back is getting a lot of attention there. People seem to be coming on to The hero sort of narrative with well, Ackman. And I'm just wondering, you know it. Might that be a potential place for Reddit Ear's to go on? Is that a good thing in general? Is it good for taunting is good for the markets. Yeah, that's that's definitely interesting one that was the largest SPAC ever to go public. The largest spec life you ever conducted s. Oh, it's definitely on. I think all traders, radar and retail traders in particular, and it's really interesting, but what we've seen the really big stacks are treating way way better than all the other specs. They're all kind of up from. There appear prices the kind of just marginally, they're not trading as well as actual companies are that good public retreating. Except for these massive stack over the past year, stacks the reason Lisa billion dollars or training more than 90% above their offering. Price on. I think Person Square is in that group. We have retail traders that are beating up these shares. You know that that always helps companies down the line. What? Well, you know, the more valuable their equity is, the more helpful it is for them to do financing. But he always have to wonder. You know, what are the morals of Marie's in cash when your stock is high? And and maybe that's something that some of these flying ideas air gonna be thinking about this year is a really big names getting into the space. I see. You know. Just recently. Masa Yoshi, son of Softbank, John Malone of Liberty Media, Big Telecom cable mogul there. Each doing specs made some big names getting into this investment. Former That's something that I think you have to have. If you're spackle in public, you don't have assets. You don't have revenue. You don't have anything. You hardly have an equity story. So I think the only thing you can really ask investors to sink their teeth into is the management and the leadership. And who are these people? They're taking this company public, and we're going to kind of in trust with our money to go find this acquisition. S so it's it's all part of the story. That's kind of generating this momentum for stacks. I think Final question, then drew what will be keeping an eye out for just over the next few days as we watch earnings, of course, as well. Well, we have an actual company that's going public. That isn't a stack of these deals are still happening, which is actually interesting. I mean, we talked about last night with a record month and ideas that was All during my stock issue. It's actually declined if you exclude back, so it's a big deal that we have real companies also going public Loon depots pricing tonight. They're gonna trade tomorrow. They tried to go public back, and I think it was 2015 on they had to pull their I P o in the 11th hour after encountering some price sensitivity. Some other recent ideas were training poorly lending club was having a bad year. Right now. We have a lot of momentum in the mortgage lending space Rocket had a knife. I Pierre recently and now we're going to see Lynn Depot debut tomorrow. I think that'll be a big story. Tomorrow. We'll keep on top of that true singer I p a reporter for Bloomberg News, joining us on the phone and just Fascinating time in a new issue market, you know, not unexpected again. Markets adder near all time highs on a daily basis that you raise money when you can not when you need it. That's old banker mantra. But this packs are.
Bloomberg Radio New York
"jp morgan" Discussed on Bloomberg Radio New York
"Believe now I think that's a little early. Is that right? Riley that we just got Wells Fargo? Yes, we did quite for a little bit early sold. We're gonna rip up the script here give you those headlines, and then we are advantage to having Steven bigger with us. With Argus, and he's got some strong opinions on Wells Fargo. Lisa The first thing I notice is those numbers are different than J. P. Morgan. Yeah, On one hand, earnings per share beat 64 cents versus Thesixties sent expectation year over year for the fourth quarter, but revenue and this is what I'm really keying in on fourth quarter revenue coming in lighter than expected 17.9 billion versus the expected 18.9 billion, Not a huge miss, but still Different from JP Morgan, which across the board seemed to blow it out of the water really interesting to look at the credit losses. They actually talked about a recovery of credit losses. So basically the economy not being as bad, perhaps as they had previously expected of $779 million, with their provisions for additional credit losses falling so again, this feeling, Tom The economy is firming up here even as the pandemic continues to rage over the election up 22 up to 35 on Wells Fargo, Stephen Bigger isn't Argus Research, and he has an absolutely unique profile. Is the way you go to the Bloomberg and you can see what people follow and Stephen Bigger is long. The banks. There's just green on the screen is just a simple is that he says, by the sector by this flavor by that flavor, Stephen, let's sum that up. Why the enthusiasm just by the banks. Tom. I think there's a number of reasons here. I mean, one is you see the results that are coming out from JP Morgan from from PNC this morning, even to some extent, Wells Fargo, but You know, there's a bit in the sweet spot right now. They took their lumps early last year to mid last year, phenomenal increase in loss provision that is easing now, in fact, turning to release of those reserves. You still got a very fancy fantastic capital Markets environment looking at J. P. Morgan with investment banking up 37% market revenues up 20. S so I I I don't think that's going to continue nearly at the same pace. But you also have lapping of the men interest margin pressure from the Fed that reduced rates to zero in March. So the lapping of that will start to occur in the second half of this year old on Stephen, because actually not interesting Come is exactly what I wanted to go. It actually came in slightly disappointing for Wells Fargo. With that interest income coming in at $9.28 billion versus the estimated 9.4 billion, not a huge miss again, but it's telling at a time when interest rates were actually least 10 year yields Were gradually rising through the fourth quarter. At what point do you say people have gone a little bit too far with their optimism about net interest income for 2021, given expectations for higher yields and given the backdrop of an economy still riddled with potholes from this pandemic? Well, I think you have to look at begin the second half of this year when it's really that the lapping impact on the banks with the 10 interest 10 year yield that moved up pretty notably. More recently, bank simply did not get the full benefit that in queue for S O, you know that you have to have a little bit of patients for men interest margins here, particularly, you know, looking into the second half of this year. I think when again, you got that lapping impact. But there's also a loan growth component, and there is a requirement that That the economy partly rebound here and that alone growth, which was negative for many banks, including here in the fourth quarter, Uh, needs to turn around as well. The consumer has been amazingly healthy. The net charge offs have not materialized on Di Think That's you know part in parcel of this of the recovery. I's to keep that consumer in good shape, and then that that will lend to at least they flattening of than an interesting come. Going into 2021 Stephen. Right now we're seeing Wells Fargo shares fall 2.4% ahead of the open after reporting disappointing earnings per share data and some other metrics that raised questions about the recovery and its ability to continue to beat yesterday, Reuters reporting that Wells Fargo is thinking of selling, it's more than $600 billion asset management arm. Do you think that this is the beginning of a number of acid sells sales by Wells Fargo in order to bolster the bottom line? And get some more confidence by investors about the prospects. I think it's in Wells Fargo's best interest to pare down to kind of focus on their on their strengths. You know, free up some of that management capacity and capital frankly, to invest in in the core of the franchise on Wells Fargo from from a Mr Beat perspective has Eyes had a difficult time and 2020 at large because they don't have the massive offsets of the capital markets. Businesses that taking more again or Morgan Stanley, Goldman Sachs, even city. I'm back. America have so that so they've been a little bit, You know, they're much more reliant on the lending businesses. And that's kind of that reason for that beat Miss Stephen. I'm lost on Wells Fargo. Five years from now. Do you perceive them as the old Wells Fargo? Or if not, what do they look like? In five years? Well, they have to move beyond the acid cap. You know, clearly, that's that has to be gold one for our CEO, Shariff it At this point, you have to be able to grow the business. On. I think they simply have to get past that. But, yeah, they have made a fair number of of expectations. I think on what they would like to be me. Clearly they want they've got that national footprint and Branch banking clearly among the strongest and the lending for mortgages, home.
Morning Edition
Tech Giants Join Corporate Reckoning Over Political Spending
"Is looking at money in politics in a new light. Ah growing list of companies is pausing some political spending after last week's violent attack on the U. S. Capitol. Among them are tech giants Facebook, Microsoft and Google and big banks, Goldman Sachs and JP Morgan. Full disclosure. Those five companies are among NPR's recent sponsors. NPR's Alina Cellucci reports. One after another. Corporations piled on one trade group called for the removal of President Trump and not just hanging group, the National Association of Manufacturers, a longtime supporter of Trump. Many of the tech and banking giants halted all their political giving, at least for a few months. Marriott, Comcast, Airbnb and others stopped donations to specific Republican lawmakers. Those who fought the certification of the election at this moment right that this crisis moment they sensitive, really important signal. MEREDITH McGee. He's the executive director of issue one and nonprofit that works to reduce the influence of money in politics. You just can't really over emphasize the role that donor Play in the current political calculation, and it's unusual to see so many companies on their own without a campaign to pressure them publicly address how they contribute to the current political state. But there are caveats. This is often the moment when many companies reevaluate their political spending right after an election. Plus, there are many ways companies make political donations. All the corporate statements now are about their official political action committees, but there are also super PACs. And tax exempt groups that don't have to disclose donors and a lot of corporate spending flows from individuals like executives. The biggest question is money in politics groups ask. Will this flurry of corporate reckoning be an epiphany or a fat Alina Cell yuk NPR news?