JP Morgan rolls out JPM Coin

The token, which represents dollar deposits at the bank, allows users to send and receive money via Coinbase’s (COIN) Base network. While the $3 billion in transactions JPM Coin currently moves per day is peanuts compared to the roughly $10 trillion a day its payments division handles, but that could change soon. Plus, the launch is symbolic: Remember, Jamie Dimon once called crypto a “decentralized Ponzi scheme”, now he says “it will be used by all of us.” Read more →

Coinbase and UK stablecoin firm BVNK have called off their exclusive, due-diligence-stage talks on a reported $2 billion acquisition (nearly double the $1.1 billion Stripe paid to acquire the stablecoin startup Bridge), saying they “mutually agreed” not to proceed. With Coinbase out, it could reopen the doors for Mastercard, which had been reportedly eying BVNK before shifting talks with ZeroHash. Read more →

As Zcash (ZEC) has rallied more than 1,000% YTD, the Winklevoss twins have decided to set up a new treasury vehicle to accumulate the privacy token. The new company, Cypherpunk, was launched with a $50 million investment from the twins and is currently trading under the ticker LPTX (soon to be CYPH). As of today, the company holds 203,775 ZEC purchased at an average price of ~$245 per coin, representing ~1.25% of the current ZEC supply. Read more →

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