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JPMorgan: Lessons Learned From the Crypto Crash
The recent market slump highlights the risks stemming from regulatory shortcomings, the bank said.
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Despite the recent crash in cryptocurrency markets, the technology behind stablecoins – a type of cryptocurrency whose value is pegged to another asset, such as the U.S. dollar or gold – will continue to play an important part in the evolution of the monetary system, JPMorgan (JPM) said in a research report Thursday.
The technologies, tokenization of securities and assets, smart contracts and cryptography, will “transform the future of financial systems,” the report said.
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As with any new development, “the challenge is to find the right balance between fostering innovation and maintaining financial stability and protection for consumers and investors,” JPMorgan said. The roles of the public and private sector still need to be clearly defined, according to the note.
Policymakers will need to address financial stability risks by improving investor and consumer protection, and by enhancing know-your-customer (KYC) and “identity issue regulation” to stop money laundering and terrorist financing.
“A blue sky regulatory framework is hard to achieve in light of political and technological realities,” the note said. The recent crypto market crash highlights the risks originating from such regulatory shortcomings, it added.
An investor survey conducted by the bank showed that 28% of respondents said crypto would be the worst-performing asset class in 2023, and that 74% expected the bitcoin price to be below $25,000 in six months. Since mid-June bitcoin has mainly been trading between $25,000 and $18,000.
Read more: Crypto Venture Capital Investment Slowed Further in October: JPMorgan
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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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Deus X CEO Tim Grant: We aren't replacing finance; we're integrating it
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
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- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
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