JPMorgan launches new crypto fund for wealthy investors — after Jamie Dimon called bitcoin a ‘fraud' and ‘Ponzi scheme'

JPMorgan Chase — whose CEO Jamie Dimon once dismissed bitcoin as a “fraud” and likened cryptocurrencies to a “Ponzi scheme” — is diving further into crypto with a money-market fund that’s based on blockchain.The bank’s asset-management division, which handles $4 trillion, will start the Wall Street giant’s first tokenized money-market fund — this one on the Ethereum network — with $100 million of its own money, the Wall Street Journal reported.The fund — called the My OnChain Net Yield Fund, or MONY — will ...