JP Morgan Chase has acquired all assets of First Republic Bank (FRC) after the California Department of Financial Protection and Innovation closed FRC on May 1. JPMorgan, along with other banks, submitted a bid to acquire the troubled FRC's assets on April 29.
More than half of the institutional traders surveyed by global financial services giant JP Morgan said that artificial intelligence and machine learning will be the most influential technology in shaping the future of trading over the next three years—cited four times more often than blockchain and distributed ledger technology.
Trading volume on Coinbase picked up in the early weeks of 2023, while other exchanges saw continuing declines, analysts at J.P. Morgan found, a sign that Coinbase’s reputation as a trustworthy exchange is paying off after the collapse of rival exchange FTX.
Davos 2023: CEO of JP Morgan Chase, Jamie Dimon claimed that the interest rates could go higher, probably more than 5%, than what has been projected by the Federal Reserve as a result of rising inflation.
Wallstreet banking giant JP Morgan & Chase believes there are significant changes coming to the crypto industry in 2023 in the form of regulation, which will likely cause a convergence between crypto and the traditional financial industry, according to its latest Global Markets Strategy report.