JPMorgan Brings JPM Coin to Ethereum | CoinDesk Daily

Uyen Truong (0:00)

JPMorgan brings JPM Coin to Ethereum, and strategy is on the verge of a golden cross. This is CoinDesk Daily.

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JPMorgan is bringing its JPM Coin to Ethereum, expanding Beyond Coinbase's base network. JPM Coin represents dollar deposit at the bank. The move targets crypto firms making blockchain payments in financial firms that need to settle trades or back tokenized assets. JPMorgan's private blockchain network, Kinexys, already handles more than $7 billion a day. Strategy, the largest corporate holder of Bitcoin, is about to flash a golden cross. The signal fires when its stock's 50-day average price rises above its 200-day. Traders read it as a bullish shift in momentum. Strategy has had two golden crosses since it started buying Bitcoin in 2020 and both were followed by huge rallies, gains of 717% and 1,774%. And Patrick Witt, President Trump's most recent digital assets advisor, said last week he's leaving government for the private sector. His exit follows the earlier departures of Harry Jung and Bo Heinz. The vacancy matters, heading into 2027 when a new Congress takes up crypto legislation and the SEC and CFTC keep moving on their own rules. Get more updates on coindesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com/thestack.

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