JPMorgan Chase & Co is a multinational investment firm providing solutions to the top most important corporations, governments and institutions. Despite the bear market, JP Morgan hired a candidate for the role of Head of Crypto regulatory policy. It is none other than, Aaron Lovine, the former executive of Bankruptcy Celsius company.
Hiring and firing have become very common in the crypto industry due to the market crash. But still, the investment giant decided to provide a regulated crypto policy in the digital space. Thereby it promotes high standards for JP Morgan amidst high regulations and downtrend.
Lovine served his eight months period in the crypto lender Celsius serving as head of policy and regulatory affairs. Unfortunately, the bankruptcy issue on Celsius is still filed in the U.S court for further approvals.
New Head of Crypto for JP Morgan
In detail, Lovine was initially working with Cross River team, a crypto friendly regional lender. He served for three years in the company leading the policy and regulatory affairs. Following in developing his career, Celsius hired Lovine in the start of the year 2022. Last month Lovine resigned his job thereby serving almost eight months in Celsius after the bankruptcy filing.
In depth the reason for this new hiring by JPM is because the CEO Jamie Dimon stated that digital assets are “decentralized Ponzis.” Besides, Dimon and other executives of JPM have been vocal critics of the cryptocurrencies.
Moreover, witnessing a bearish state, all the cryptocurrencies are lacking its value. Thus, being an investment firm, JPM finds very little demand for these assets as a payment platform.
Additionally, There are few more positions yet to open on the JP Morgan hiring portal. But the requirement for a Digital Asset Counsel- Corporate & Investment Bank position is open this month.
