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JPMorgan's Chief Financial Officer Jeremy Barnum candidly expressed concerns about stablecoins at the recent earnings call. Why is one of the world's largest investment banks so cautious about this type of cryptocurrency?
Stablecoins have grown rapidly over the past few years, forming a sizable ecosystem. From JPMorgan's perspective, this blockchain-based payment and settlement system is gradually evolving into a financial network parallel to the traditional banking system. The emergence of this parallel banking system directly threatens the intermediary position and risk management capabilities of traditional financial institutions.
Barnum's statement reflects the deep concerns of traditional financial giants: as more value flows into the stablecoin ecosystem, central banks' monetary policy tools and traditional banks' liquidity control will face challenges. This is not just a competition issue but also involves the stability of the entire financial system.
Talking about risk control, isn't it just fear of losing power?
If they truly cared about stability, they would have embraced blockchain long ago
But Barnum is not entirely wrong; it all depends on who can get regulatory approval first
Stablecoins are now competing with traditional finance, so of course they can't sit still
If the central bank reacts slowly this time, the financial landscape might really change
JPM is implicitly admitting that they are panicking
I heard they are secretly developing their own digital assets, openly opposing but secretly working on it
Honestly, it's a confrontation between the old forces and the new era, seeing who can survive until the end
What are those JPM folks panicking about? It's just that their system is about to lose its livelihood.
The rise of stablecoins means their control is diminishing, and that's what they're truly worried about.
Pretending to care about financial stability—it's just fear of losing influence.
Really? Traditional finance is still worried about risk control, but we've already witnessed what transparent liquidation looks like on the chain.
The most important lesson in the bear market survival guide: when the big fish start complaining about you, it means you're already threatening them.
But on the other hand, the central bank's policies are indeed variables, so everyone needs to keep a close eye.
If JPM really fears that much, why does their internal team still research blockchain... Honestly, this is a bit like closing your ears to steal a bell.
Stablecoins should have been popularized a long time ago. Traditional banks have monopolized for too long.
Listen to what they say about "risk control"—they just don’t want to lose their iron rice bowl.
What truly threatens the financial system? It’s your monopoly.
This wave of remarks might actually be a positive signal for stablecoins. The big players can’t sit still, which shows this thing really has hope.
Old story... If stablecoins were really that threatening, they wouldn't be banned yet.
Their "risk control" is just that when risks come, they cover the losses—don't cause trouble.
It's ridiculous, acting like it's the real deal, is the central bank policy failing? Exaggerating
Traditional finance gets replaced only after screwing up, who can they blame
When stablecoins become popular, they start shifting blame, classic big bank move
Honestly, it's still a conflict of interest, nothing to hide
Their profitable business has been poached, I can smell the bitterness
Are central banks really that incompetent? Just listen and don't take it seriously
They say they're worried while secretly building JPM Coin, what kind of move is this
Financial system stability? They created the bubble themselves and are now blaming blockchain