The JPMorgan Connection & Ethereum Alliance
– In February 2017, JPMorgan and ConsenSys formed the Enterprise Ethereum Alliance.
– JPMorgan later left the consortium, marking the beginning of significant events.
Secret Meetings and Major Investments
– JPMorgan had secret meetings with Coinbase in early 2018.
– They also made substantial investments in ConsenSys, a rival of Ripple.
– The connection between JPMorgan and Ethereum is evident.
Lawsuits and Regulatory Issues for Ripple
– Ripple has faced legal and regulatory challenges, including a lawsuit by the SEC in December 2020.
– Ripple’s General Counsel called for an investigation into financial conflicts involving Hinman.
– These obstacles have hindered Ripple’s progress and the adoption of its digital currency XRP.
Free Pass for Ethereum
– Ethereum has received preferential treatment from the SEC, including a regulatory “free pass” in July 2017.
– This has given Ethereum an advantage over Ripple.
– Lawsuits filed against the SEC for concealing documents about Ethereum add controversy to the situation.
Hot Take: JPMorgan’s Influence
This investigation suggests that JPMorgan’s historical practices of creating monopolies may be at play in the digital finance world. The connections between JPMorgan, Ethereum, and Ripple’s setbacks raise suspicions of unfair advantages and strategic delays. The regulatory privileges given to Ethereum by the SEC and the legal challenges faced by Ripple seem more than coincidental. It’s worth questioning the extent of JPMorgan’s impact on the success of Ethereum and the setbacks faced by Ripple.
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