The CEO's annual shareholder letter warned that new tech is reshaping finance, with tokenization and blockchain competitors gaining as the bank scales its own network. JPMorgan CEO Jamie Dimon said “new technologies” are intensifying competition across the financial sector, with blockchain-based players emerging alongside traditional rivals. In his annual shareholder letter on Monday, Dimon identified artificial intelligence, data and advanced technology as “key to the future,” signaling a shift toward more automated, data-driven financial services. While blockchain and digital assets were not a central focus, Dimon acknowledged that “a whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts and other forms of tokenization.” Read more
Acknowledging there was ”still a lot more work to do” before Congress could advance a market structure bill, Senator Bill Hagerty renewed attention starting next week. US Senate Banking Committee member Bill Hagerty said Monday that he expects a potential path for a digital asset market structure in the coming weeks after months of delays in Congress. Speaking at the Digital Assets and Emerging Tech Policy Summit at Vanderbilt University, he said his fellow Republican lawmakers planned to move the bill through the banking panel starting next week. “We will be in a position, I hope, to bring all of this together very soon,” said Hagerty, referring to work on the bill in the Senate. “On the banking committee side, I think we’re very close, and my expectation is that we get it into committee in this next work period that starts on Monday of next week, so that over the next several weeks we should have this into the banking committee.” Read more
While an Iran ceasefire favors stocks, Bitcoin’s path to $75,000 remains contingent on market trust despite Trump’s volatile diplomacy. Key takeaways: President Trump’s Tuesday deadline to Iran creates a pivotal moment for Bitcoin as it continues to decouple from gold. While a ceasefire could boost equities, Bitcoin’s $75,000 path depends on its role as a hedge against fiscal instability. Read more
Bernstein says Figure may be undervalued as loan volumes surge and its tokenized credit platform expands, despite recent stock declines and market volatility. Figure Technology Solutions, a blockchain-based lending platform that went public last year, may be undervalued at current levels as loan originations accelerate and its tokenized credit marketplace scales, according to Bernstein analysts. In a report published Monday, Bernstein assigned Figure an “Outperform” rating and a $67 price target — nearly double the stock’s recent trading level of around $32. The bullish call follows a surge in lending activity. Figure originated $1.2 billion in loans in March, up 33% from the previous month and marking the first time monthly volumes exceeded $1 billion. Read more