In their “Flows & Liquidity” report, JP Morgan analysts say institutions are piling into bitcoin at a stronger pace this quarter than they were in Q3 and may have a bigger role in price movement than quantitative traders.
Aug 25, 2020
Quorum, the enterprise blockchain platform developed by mega-bank JPMorgan Chase, is to be acquired by ConsenSys, the Brooklyn-based Ethereum venture studio.
The appointment comes as U.S.-based Ripple is openly contemplating relocating its headquarters to another country, citing lack of regulatory clarity.
Bitcoin proved itself a resilient asset, if not a stable or useful currency, during March's global market meltdown, JPMorgan analysts told investors.
Rather than build an alternative currency like Libra, Facebook should concentrate on building new infrastructure, like the open systems in the ethereum-DeFi space, says ConsenSys's Lex Sokolin.