Salem Radio Network News Sunday, November 27, 2022

Business

Former Celsius exec joins JPMorgan as director of crypto regulatory policy

(Reuters) -Former Celsius executive Aaron Iovine has joined JPMorgan Chase & Co as executive director of digital assets regulatory policy, according to his LinkedIn profile, days after the bank’s Chief Executive Jamie Dimon blasted cryptocurrencies as fraud and decentralized ponzi schemes.

Iovine was head of policy and regulatory affairs at bankrupt crypto lender Celsius, which he left in September after an eight-month stint.

Celsius filed for bankruptcy in July, as risk assets including bitcoin were crushed by monetary policy tightening. Crypto markets were also squeezed by the collapse of major tokens TerraUSD and Luna in May.

A spokesperson for JPMorgan confirmed the hire, but declined to provide additional details.

Dimon has been a vocal critic of cryptocurrencies. At the Institute of International Finance meeting last week, he repeated his criticism of the digital assets, saying crypto tokens lacked value.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)

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