JPMorgan Races to Tokenize

Jamie Dimon says JPMorgan must move faster as tokenization reshapes finance

Good Morning,

Here's a quick preview of today’s content: China's tax authority urges banks to implement blockchain, AI cybercrime tool targets crypto and KYC systems, Circle’s Arc Network reveals quantum resistance plans, Strategy resumes treasury buys with $330M purchase, Binance compliance staff leave financial crime and monitoring roles, and so much more

Happy Tuesday - Let’s dive in.

Market Snapshot

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  • Bitcoin briefly tops $70,000 as mediators submit 45-day Iran ceasefire plan and crypto shorts get squeezed

    • ETH hits weekly high on rising ceasefire hopes, though profit taking keeps BTC below $70K

    • Onchain perp DEX volumes fall for fifth straight month after October peak

  • Oil slides on ceasefire talks as Bitcoin rallies past weekly highs on geopolitical optimism

Prediction Markets

  • Bettors on Polymarket are predicting oil all time high by April 30?

  • Track and trade live odds on any event, only on Polymarket

Headline Roundup
The major headlines driving crypto markets

  • Strategy posts $14.5B unrealized loss in first quarter (BBG)

  • Binance compliance staff leave financial crime and monitoring roles (BBG)

  • China orders Jack Dorsey's Bitchat pulled from app store (DC)

  • Jamie Dimon says JPMorgan must move faster as tokenization reshapes finance (CD)

  • Argentina's Milei had phone calls with leader of LIBRA project that collapsed (TB)

  • SEC crypto safe harbor heads to White House review (TB)

  • OpenAI CEO urges US to prepare for AI superintelligence (CD)

  • Polymarket unveils plans for stablecoin and trading engine upgrade (TB)

  • Senate panel confirms April timeline for crypto market structure (CT)

  • Blockchain Association challenges Citadel over SEC's innovation exemption (TB)

  • Strategy resumes treasury buys with $330M purchase (DC)

  • Tom Lee’s BitMine nears 4% of Ethereum supply (DC)

  • Strive adds 113 Bitcoin (BM)

  • Galaxy taps Broadridge for onchain shareholder vote (TB)

  • Solo miner beats odds to secure $210,000 block reward (CD)

  • Aave loses key risk manager Chaos Labs amid disputes (TD)

Launches

  • Circle’s Arc Network reveals quantum resistance plans (DC)

  • Fintech giant Toss eyes launching native crypto (TB)

Regulation

  • China's tax authority urges banks to implement blockchain (CT)

  • Kalshi scores biggest legal win yet against New Jersey (DC)

  • South Korea orders reconciliation for crypto exchanges (FM)

  • Rwanda reaffirms crypto ban after Bybit adds franc support (BM)

Cybersecurity

  • AI cybercrime tool targets crypto and KYC systems (CT)

Extra Reads

Chart of the Day

Ethereum staking nears 32% of total supply with 38.5M ETH locked

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