JPMorgan & Co. is one of the leading financial services institutions globally, including crypto. Its assets and worldwide operations are worth over $2.6 trillion. The company’s rich history has been on for more than 200 years. JP Morgan is committed to providing commercial banking, financial services for small businesses and customers, investment banking, etc. It also provides asset management and financial transaction processing. Related Reading: Post-Merge Profit-Taking Cuts 13% Off Ethereum Ratio Against BTC The company shared some recent happenings among its clients. It revealed that many are withdrawing from using digital currencies as payment means. According to the company, this new action from its clients has been on for the last few months. The primary reason for the drop in interest is the current bear market in the digital currency industry. Crypto Market And Effect On JPMorgan Several adverse events are the main reasons for the current bearish market. Some of these are the U.S. 40-year record inflation rate, the Ukraine conflict, the European Union energy crisis, etc. This bearish crypto market negatively affects investors and traders in several crypto financial firms. An example of these companies is JPMorgan Chase. Takis Georgakopoulos cited that the company’s clients were eager to use cryptocurrencies as a means of payment six months before now. Georgakopoulos is the Global Head of Payments at JPMorgan...
