JPMorgan CEO, Jamie Dimon, warned investors in his latest annual letter that 
the bank must accelerate its efforts in blockchain technology to meet mounting 
competition from the crypto sector. Dimon told shareholders that a “whole new 
set of competitors” has emerged around blockchain-based products — including 
stablecoins, smart contracts, and broader tokenization — and that the bank 
needs to “roll out our own blockchain technology” to defend its market 
position. JPMorgan Doubles Down On Crypto The call to action comes as the US 
regulatory landscape for crypto undergoes notable shifts and traditional 
financial institutions increasingly adopt decentralized technology. JPMorgan 
is not starting from scratch: the firm introduced JPM Coin on a permissioned 
blockchain in 2019 and has continued to build capabilities through its Kinexys 
blockchain unit, which focuses on tokenization and payments. The bank has also 
been involved in experiments on permissionless chains; executives from 
JPMorgan’s Commercial and Investment Banking units recently pointed to the 
bank’s role in a 2025 US commercial paper issuance on Solana (SOL) for Galaxy 
Digital Holdings as a sign of broader exploration. Related Reading: Ethereum 
(ETH) Outlook: $2,500 Break Could Trigger Major Rally — Expert’s Price 
Scenarios Dimon’s stance toward crypto has evolved visibly over the past year. 
Once a vocal skeptic, he publicly acknowledged last year that he has become “a 
believer in stablecoins,” and later reiterated that “blockchain is real,” 
predicting it would displace elements of the traditional financial system. 
JPMorgan has already ramped up its internal crypto activity. In a separate 
investor note, the co‑CEOs of the bank’s Commercial and Investment Banking 
division reported that transactions on JPMorgan’s blockchain-based products 
have expanded roughly thirtyfold since 2023. At the same time, JPMorgan and 
other major banks have been active in shaping regulatory outcomes. The banking 
industry has pressed to alter provisions of the GENIUS Act and the anticipated 
CLARITY Act, seeking to prevent what they call a regulatory “loophole” that 
might allow stablecoin issuers to offer yield. Banks’ Push To Bar Stablecoin 
Rewards Banks argue that yield-bearing stablecoins could serve as substitutes 
for deposit accounts, posing a risk to their deposit bases and potentially 
destabilizing lending. Yet, those concerns were challenged on Wednesday by a 
new analysis from the White House Council of Economic Advisers. Using a model 
calibrated to current market conditions, the report found that banning 
stablecoin yields would have only a marginal effect on deposit flight from 
banks. Specifically, it estimated that eliminating stablecoin yield would 
raise bank lending by roughly $2.1 billion — about 0.02% of total loans — 
while imposing an estimated $800 million net welfare loss on consumers, 
suggesting the costs could outweigh any systemic benefits. Related Reading: 
FDIC Advances Rulemaking For GENIUS Act: New Framework For Stablecoin Issuers 
The study also tested a worst‑case scenario in which stablecoins pose a much 
larger threat to lending, but that outcome required assumptions — such as zero 
excess reserves and a major shift in Federal Reserve policy — that do not 
reflect present conditions. It remains uncertain whether the White House 
analysis will shift negotiations between banks and the crypto industry over 
whether yield and rewards should be permitted on stablecoins. Those involved 
in the talks have largely remained silent over the past two weeks amid 
Congress’s Easter recess. However, two sources familiar with the discussions 
told Crypto In America that they remain cautiously optimistic that the talks 
are progressing. Featured image from OpenArt, chart from TradingView.com

JPMorgan CEO Says Bank Must Build Its Own Blockchain To Counter Crypto Threats

XRP price started a downside correction from the $1.40 zone. The price is now 
consolidating and might aim for another increase if it stays above the $1.30 
zone. XRP price started a downside correction after it failed to clear the 
$1.40 zone. The price is now trading below $1.340 and the 100-hourly Simple 
Moving Average. There is a bearish trend line forming with resistance at 
$1.3550 on the hourly chart of the XRP/USD pair (data source from Kraken). The 
pair could start a fresh increase if it settles above $1.3550. XRP Price Dips 
Again XRP price started a decent upward move above $1.350 and $1.3550, like 
Bitcoin and Ethereum. The price gained pace for a clear move above the $1.3650 
resistance. A high was formed at $1.3963, and the price started a downside 
correction. There was a move below $1.3650 and $1.350. The price dipped below 
the 50% Fib retracement level of the upward move from the $1.2940 swing low to 
the $1.3963 high. The price is now trading below $1.340 and the 100-hourly 
Simple Moving Average. If there is a fresh upward move, the price might face 
resistance near the $1.3450 level. The first major resistance is near the 
$1.3550 level. There is also a bearish trend line forming with resistance at 
$1.3550 on the hourly chart of the XRP/USD pair, above which the price could 
rise and test $1.3650. A clear move above the $1.3650 resistance might send 
the price toward the $1.3880 resistance. Any more gains might send the price 
toward the $1.40 resistance. The next major hurdle for the bulls might be near 
$1.4250. Another Drop? If XRP fails to clear the $1.3450 resistance zone, it 
could start a fresh decline. Initial support on the downside is near the 
$1.3220 level. The next major support is near the $1.3180 level or the 76.4% 
Fib retracement level of the upward move from the $1.2940 swing low to the 
$1.3963 high. If there is a downside break and a close below the $1.3180 
level, the price might continue to decline toward $1.3110. The next major 
support sits near the $1.2880 zone, below which the price could continue lower 
toward $1.2680. Any more losses might call for a test of $1.250. Technical 
Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the 
bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is 
now below the 50 level. Major Support Levels – $1.3180 and $1.3110. Major 
Resistance Levels – $1.3450 and $1.3550.

XRP Price Reversal at $1.40, Gains Wiped as Bears Return

Visa is rolling out a platform that helps merchants make their product 
inventories discoverable and purchasable by AI agents.

Visa unveils commerce platform enabling autonomous AI shopping

Cango Inc. sold 6,451 bitcoin across February and March 2026, applying the 
proceeds entirely to retire crypto-collateralized loans as the company 
transitions its mining infrastructure toward artificial intelligence (AI) 
compute services. Key Takeaways: Cango Inc. sold 6,451 BTC across February and 
March 2026, generating roughly $442 million to retire bitcoin-backed loans. 
The sales cut Cango’s […]

Cango Completes $442M Bitcoin Liquidation and Secures $75M in New Capital for AI Pivot

The US, Russia and China together control over 65% of global Bitcoin hashrate, 
a reminder that mining power remains heavily concentrated even as local shocks 
push smaller markets up and down. Related Reading: Bitcoin Mood Sours To 
Levels Not Seen Since Late February In that mix, Iran has seen a sharp fall. 
Its hashrate dropped about 77% in the past quarter, to roughly 2 EH/s, after 
months of conflict and disruption. Iran’s Share Drops Fast According to a 
report from Hashrate Index, Iran lost about 7 EH/s quarter over quarter. The 
decline came during a period of rising tension with the US and Israel, with 
strikes and retaliation driving instability across the region. Even so, the 
pullback did not spread in the same way to nearby mining hubs. The United Arab 
Emirates and Oman were reported to have stayed stable. Source: Hashrate Index 
The report framed the change as a local hit rather than a network-wide threat. 
Global hashrate remained near 1,000 EH/s, which means the Bitcoin network kept 
working with little sign of strain. That is partly because no single region 
has enough mining power to threaten continuity on its own. When one place 
weakens, other places can absorb the load. Iran’s drop also comes with a large 
miner count behind it. The country is estimated to have about 427,000 active 
Bitcoin mining rigs. Those machines do not all run at the same efficiency, and 
many older units have been forced out as margins tighten. Price Pressure Hits 
Miners Everywhere The broader network has also been under pressure. The 30-day 
simple moving average for global hashrate fell from 1,066 EH/s in the first 
quarter to about 1,004 EH/s in the second quarter, a drop of 5.8%. The report 
linked that move to falling Bitcoin prices, not to energy costs or regulation. 
Bitcoin has fallen more than 45% from its record high of $126,000 set in 
October. That drop has pushed mining revenue lower and made hash prices hit 
record lows. At those levels, older machines with efficiency above 25 J/TH can 
run at a loss and get shut down. The report said about 252 EH/s of marginal 
capacity is now offline, with much of it tied to older hardware. Related 
Reading: Underdog Bitcoin Miner Bags $210,000 BTC In Stunning Block Discovery 
Redistribution, Not Collapse The story the numbers tell is simple. Mining does 
not stay fixed in one place for long. It moves toward cheaper power, better 
machines and higher margins. When those conditions fade, rigs are switched off 
or shipped elsewhere. That is what happened in this case, with Iran taking the 
biggest hit while the wider network kept moving. Featured image from Pexels, 
chart from TradingView

Cryptocurrency price in KRW