Jamie Dimon, CEO of JPMorgan Chase, criticised Bitcoin in a CBS News interview, labeling it a “decentralized Ponzi scheme” primarily used by criminals for activities like money laundering and sex trafficking, www.ibtimes.co.uk reports.

While he acknowledged the potential of blockchain technology, he remains skeptical about Bitcoin’s intrinsic value and its role in the financial system.

Dimon’s longstanding criticism highlights a broader discussion about the challenges and implications of cryptocurrencies in modern finance.