Jamie Dimon, CEO of JPMorgan Chase & Co (N:), said on Tuesday that his eventual successor is an executive working at the bank.
In an appearance at a separate conference earlier in the day, Dimon said bitcoin mania is reminiscent of the tulip bulb craze in the 17th century.
Bitcoin fell to its session lows after Dimon's comments.
LA Lakers Retiring BOTH of Kobe Bryant's Numbers!
However, the day before the draft, the Lakers traded center Vlade Divac to the Hornets for their draft rights. Over 67 career games against the Warriors, Kobe Bryant averaged 27.0 points, 5.2 rebounds and 4.7 assists.
JPMorgan's Chief Executive Officer, who previously served on the Board of Directors of the Federal Reserve Bank in NY, compared bitcoin to the "Tulip Mania" economic bubble that swept Holland in the 17 Century, Bloomberg first reported. That didn't end well. Bitcoin prices have risen more than four-fold this year, prompting debate over its exposure to an economic bubble.
"If you're in Venezuela or Ecuador, or North Korea, you're better off probably using Bitcoin than using their currency", he said. It was also during that appearance that said that he would terminate any trader that he found to be trading bitcoin for being "stupid". I'm not sure if I would go so far as to call Bitcoin an outright fraud, but the hype has got me extremely wary. "And both are unsafe".
Last week, it slumped after reports that China plans to ban trading of virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market.
Dimon said that blockchain can be useful but its use by banks "won't be overnight". "So there may be a market for that, but it'd be a limited market".
"Honestly, I am just shocked that anyone can't see it for what it is".
One place where cryptocurrencies and traditional finance are coming together is at CBOE Holdings Inc., the owner of the Chicago Board Options Exchange.
FPL Making Progress In Powering Up Miami-Dade & Broward
Power losses in Georgia, which were nearing 900,000 as of 3 pm EDT, were expected to increase as the storm moved north. Many residents in Central Florida are in the dark as utility crews assess the damage caused by Hurricane Irma .
CBOE's chairman and CEO, Ed Tilly, defended such efforts after Dimon's remarks.
Speaking to " 60 Minutes " on CBS, Steve Bannon called the Comey decision the worst mistake in "modern political history". A White House spokeswoman came out swinging against Hillary Clinton's new memoir.
Geng said that China "hopes that the contents of Resolution 2375 can be implemented in a comprehensive and complete manner". The draft had also called for a ban on North Korean overseas laborers, but the approved resolution included some caveats.
Three - Goodson, Rice and White - face termination from the force, while Miller and Nero face five days suspension without pay. Brian Rice and Officer Edward Nero - were acquitted in bench trials before Circuit Judge Barry G.
Sky will have an orchestral soundtrack and, thanks to the 810X fusion chip on the new Apple TV , looks handsome . Today (September 12), during Apple's iPhone event, thatgamecompany returned to announce their new game Sky .
Although Irma's eye was almost 100 miles from the Miami area, hurricane-force wind gusts battered the area on Sunday. According to city officials, it would have taken about two weeks to move the cranes and there wasn't enough time.
Any BlackBerry Priv users out there? According to BlackBerry's GM, Alex Thurber , the Priv won't get updated to Android Nougat . Having said that, BlackBerry is a leading name in the field of enterprise-level security that derives from regular updates.
In recent months, he has faced growing pressure to resign as more people came forward to accuse him of sexual assault. But Tuesday's allegations, first reported by the Seattle Times , proved to be the final straw.
Bangladesh says their presence strains local resources, increases crime and deters tourists in the Cox's Bazar area. Rohingya people are seen as illegal immigrants in the Buddhist-majority Myanmar and are denied citizenship.
Commercial vehicle sales, too, increased 23.22% year on year to 65,310 units due to increase in movement of goods, SIAM said. Vehicle sales grew by 12 per cent and vans by 11 per cent, according to Society of Indian Automobile Manufacturers.
Mogherini said the European Union was focused on achieving a Korean peninsula free of nuclear weapons, through diplomatic means. Following a series of behind-the-scenes negotiations Sunday, diplomats agreed not to ban oil exports into North Korea.
Nordstrom stock falls after inventory-free store plan
Nordstrom is about to experiment with a tiny location to attract new customers - and it won't even be selling any clothes there. More Stock News: This Is Bigger than the iPhone! Nor will one store, a small one at that, move the needle.
Irma storm surge floods Miami streets
Some AL.com readers have reported no or low gas availability in some towns along the I-65 evacuation route. Most projections show the hurricane weakening only slightly as it travels upwards through the whole state.
France defends its handling of island hurricane preparations
After Irma, aerial footage shot by Dutch marines showed that Maho Beach's sands had washed away and the airport was badly damaged. Castaner said many islanders were suffering from "an impact of emotional shock, an impact that's extremely hard psychologically".