Today in crypto, JPMorgan CEO Jamie Dimon’s annual shareholder letter warned that new tech is reshaping finance, with tokenization and blockchain competitors gaining, Samson Mow warned that rushing post-quantum cryptography could spark “Blocksize wars 2.0” and digital asset markets bounced 2.5% after US President Donald Trump sent mixed signals on a possible Iran deal.
JPMorgan's Jamie Dimon sees ‘new competitors’ from blockchain, stablecoins
JPMorgan CEO Jamie Dimon said “new technologies” are intensifying competition across the financial sector, with blockchain-based players emerging alongside traditional rivals.
In his annual shareholder letter on Monday, Dimon identified artificial intelligence, data and advanced technology as “key to the future,” signaling a shift toward more automated, data-driven financial services.
While blockchain and digital assets were not a central focus, Dimon acknowledged that “a whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts and other forms of tokenization.”
The comments come as JPMorgan continues to focus on its own blockchain initiatives, even as Dimon emphasized that the bank’s long-term success will depend largely on its ability to deploy AI across its operations.
Rushed quantum fix may backfire for Bitcoin, Samson Mow warns
Rushed quantum fixes for Bitcoin could introduce new risks, Jan3 founder Mow warned in response to calls from Coinbase executives for faster action.
The Bitcoin advocate took to X on Saturday to address comments from Coinbase CEO Brian Armstrong and chief security officer Philip Martin, who urged the industry to begin preparing for quantum computing threats sooner rather than later.
He said that while post-quantum (PQ) cryptography could secure Bitcoin (BTC) against future quantum computers, rushing implementation may create new vulnerabilities such as compatibility issues and reduced network efficiency due to larger signature sizes.
“Simply put: make Bitcoin safe against quantum computers just to get pwned by normal computers,” Mow said, adding that a poorly timed transition could weaken Bitcoin against today’s threats before addressing future ones.
The exchange reflects a growing debate over how to future-proof Bitcoin, as new research from Google and Caltech reignited concerns about progress in quantum computing.
Trump-Iran deadline chaos sends crypto higher
Crypto markets bounced 2.5% as US President Donald Trump sent mixed signals over a potential deal with Iran to reopen the Strait of Hormuz, including reports of a possible ceasefire that could permanently end the war.
In an expletive-laden post on the Truth Social platform on Sunday, Trump threatened that Iran would be “living in Hell” if the Strait of Hormuz is not reopened.
However, he also acknowledged in a Fox News interview that Iran is “negotiating now” and expressed optimism about a “good chance” of a deal within 24 hours.
Total market capitalization has climbed about $70 billion, or 2.5%, to an 11-day high of $2.44 trillion in early trading on Monday on the news. Bitcoin tapped $69,500 on Coinbase, according to TradingView.
The small jump has led to total liquidations of around $255 million over 24 hours, 73% of them being short positions, according to data from CoinGlass.
