Weekly Crypto Digest: Ex-Celsius board member joins regulatory desk JPMorgan

The attached chart illustrates the development of the crypto market. The total crypto market cap currently stands at $922 billion and now numbers more than 21,400 coins.

Like last week, Bitcoin’s market dominance notes 39%. Bitcoin’s market cap remained remarkably stuck at the level of 7 days ago: 368 billion. The market dominance of Ethereum (ETH) also did not budge and still stands at 17%, while the market cap of the No. 2 coin rose fractionally to $158 billion.

Bitcoin’s market dominance noted 39% as it did last week. Bitcoin’s market cap remained remarkably stuck at the level of 7 days ago: 368 billion. The market dominance of Ethereum (ETH) also did not budge and still stands at 17%, while the market cap of the No. 2 coin rose fractionally to $158 billion.

Cryptomarket consolidates in tight trading range

The crypto market has once again failed to post highs over the past 7 days. On balance, the crypto market did not move much from its place and is still waiting for positive momentum. On a positive note, the market did manage to stay well above the low of $762 billion. The two largest coins BTC and ETH, which together hold nearly 60% of the crypto market, will need to take the lead to pull the crypto market back out of the doldrums.

Ex-Celsius board member joins regulatory desk JPMorgan

Former Celsius executive Aaron Iovine has joined JPMorgan Chase & Co. He is doing so as executive director of digital assets regulatory policy. This is notable given that recently the bank’s chief executive officer, Jamie Dimon, labeled cryptocurrencies as frauds and decentralized ponzi schemes.

Iovine was previously head of policy and regulation at the now defunct crypto lender Celcius. Iovine left Celcius in September after an eight-month stint.
However, this is not the first time Jamie Dimon has spoken negatively about Bitcoin and other crypto currencies. For example, in 2017 he stated that Bitcoin is “scam” and even once labeled Bitcoin as gold for idiots.

So this is hypocrisy at its finest, Meanwhile, customers can invest in some crypto currencies through JPMorgan’s trading platform. JPMorgan is a true bankster who, like a fox, may be able to lose its hair, but not its stripes.