Welcome back, Welcome Back, Welcome….back. Today’s top story: JP Morgan and its massive U-turn on cryptocurrencies. Despite years of staunch opposition to DeFi and a CEO that only months ago labeled crypto as “a decentralized Ponzi Scheme” , JPMorgan has executed its first-ever cross-border transaction using decentralized finance on a public blockchain. So, how did it happen and what are the bigger implications? Let’s zoom in.
0:00 U-Turn
0:26 JPMorgan’s First DeFi Trade
1:38 Behind the scenes
2:48 Project Guardian
3:20 Onyx
3:51 Why are banks interested in DeFi
4:48 Illiquid assets
5:57 Best case scenario
6:19 Should we be worried about JPMorgan?
