BUSINESS NEWS: JPMorgan Chase is examining whether to offer loans secured directly by clients’ cryptocurrency holdings, the Financial Times reported, citing people familiar with the discussions.
The initiative would allow customers to pledge assets such as Bitcoin and Ethereum as collateral and could begin as soon as next year, though the plans remain preliminary.
The change would expand the bank’s existing practice of accepting crypto exchange-traded fund shares as collateral and would mark a significant reversal for Chief Executive Officer Jamie Dimon, who in 2017 dismissed Bitcoin as a fraud.
Dimon has since moderated his stance, saying in May that he supports customers’ right to buy the token.
Industry analysts say the proposal highlights Wall Street’s growing comfort with digital assets after Washington’s recent GENIUS Act and the first congressional framework for stablecoins.
Even so, Basel III rules attach a 1,250% risk weighting to direct crypto exposure, meaning JPMorgan would likely rely on external custodians—such as Coinbase—to hold any seized collateral.
Rival banks are watching the space: Morgan Stanley is considering crypto trading on its E*Trade platform, while Goldman Sachs still rejects cryptocurrencies as loan collateral.
If implemented, JPMorgan’s move could unlock fresh credit lines for crypto-wealthy clients and pressure competitors to follow suit.
SOURCES: From @ElonMusk's X.com News Discussion Platform
@FT @jpmorgan @pete_rizzo_ @CryptoMutant @JakeGagain @coinbureau @Ashcryptoreal @BitcoinMagazine @Vivek4real_ @DecryptMedia @TheBlock__ @bolsamania @JakeGagain @RoundtableSpace @CoinDesk @parikshitm899 @WatcherGuru @BSCNews @newsinvesting @RedboxWire @LiveSquawk @FirstSquawk
ADDITIONAL SOURCES:
https://www.ft.com/content/70279a78-6e48-49ec-a0c3-b091e9d87bc1
https://decrypt.co/331187/jpmorgan-exploring-loans-backed-by-bitcoin-ethereum-ft
https://www.theblock.co/post/363771/jpmorgan-explores-crypto-lending
https://www.investing.com/news/stock-market-news/jpmorgan-considers-offering-loans-backed-by-clients-cryptocurrency-holdings-ft-reports-4144949
FILE THIS UNDER:
$JPM $BTC $GS $MS $COIN $ETH #CryptoNewswire #JPMorganChase #FinancialTimes #Bitcoin #Ethereum #JamieDimon #WallStreet #WashingtonDC #CryptoMarkets #Business #GENIUSAct #JPMorgan #Coinbase #MorganStanley #GoldmanSachs #CryptoLoan #CryptoFundraising #StableCoins #CryptoExchange #CryptoCurrency #CryptoCollateral
VIA; Brian Harrod - The Harrod Report
https://x.com/GetTheDailyDirt/status/1947590612774965702
ALSO: From The Crypto Newswire....
CRYPTO NEWSWIRE: @ElonMusk's @SpaceX Shifts $153 Million in Bitcoin in First Move Since 2022
A WHALE MAKES A CRYPTO MOVE: Elon Musk’s SpaceX shifted 1,308 bitcoin—worth about $153 million at current prices—out of a long-dormant company wallet blockchain data compiled by Arkham Intelligence show.
CRYPTO MARKETS: The address had not sent funds since June 2022, making the move the rocket company’s first recorded on-chain transaction in more than three years.
Arkham’s analysis indicates the transaction was an internal reorganization rather than a sale, as SpaceX’s aggregate balance remains roughly unchanged at 6,977 BTC, valued near $818 million.
The tokens are held under Coinbase Prime custody, suggesting the company is updating its treasury management structure rather than liquidating its crypto reserve.
DETAILS OF THE TRANSACTION:
Amount: 1,308 BTC, valued at approximately $153 million.
Recipient: A previously inactive wallet.
Fee: The transaction incurred a minimal fee of roughly $29.
Previous Activity: The last recorded outward transfer from a SpaceX wallet was on June 10, 2022, when it moved 3,505 BTC (valued at around $102 million at the time) to Coinbase.
POSSIBLE REASONS FOR THE TRANSFER:
While SpaceX has not officially disclosed the reason for this move, some possibilities include.....
Internal Wallet Restructure: The company might be reorganizing its storage infrastructure.
Security Upgrade: Enhancing security measures for its Bitcoin holdings.
Long-term Asset Management: Preparing for a strategic shift in crypto holdings, reinforcing the company's commitment to the long-term value of Bitcoin.
Potential over-the-counter (OTC) sale: While not confirmed, this is a possibility being considered by analysts.
REMAINING HOLDINGS AT SPACE X
Following this transaction, SpaceX still holds 6,977 BTC, which is currently valued at around $815 million.
BROADER IMPLICATIONS
This transfer, while potentially an internal move, has sparked discussion about institutional adoption of Bitcoin and digital asset management strategies.
Elon Musk's companies, including SpaceX and @Tesla, hold a combined total of over $2 billion in Bitcoin, purchased at an average price of around $32,000, indicating significant confidence in the cryptocurrency
MORE INFORMATION: With Detailed And Insightful Commentary On #ElonMusk's X News Discussion Group
@wallstengine posts....
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https://x.com/twitter/status/1947528345224138856
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