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Jamie vs. The Crypto Bulls

What’s really going on between Wall Street’s blockchain envy, bonus season at Goldman, and Larry Fink’s god complex.

Jamie Dimon
Photo by Misha Friedman/Getty Images
William D. Cohan
January 16, 2022

You don’t need to watch that ridiculous Matt Damon commercial on loop to understand that the crypto markets have been on fire. Venture firms, in particular, are placing huge new bets on the crypto market: FTX, the crypto exchange, just launched a $2 billion fund, competing with similarly sized funds from a16z ($2.2 billion) and Paradigm ($2.5 billion) last year. On the other side, however, Jamie Dimon says “cryptocurrency has no intrinsic value” and called bitcoin “worthless.”