Citigroup, JPMorgan CEOs shrug off Libra's potential to impact their card business
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Quick Take
- Mike Corbat, Citigroup CEO, said he’s read the Libra whitepaper several times; questions whether it will be consortium led or Fed-backed when the coin (or something like it) inevitably comes
- Jamie Dimon, JPMorgan CEO, said “we’ve been talking about blockchain for seven years and very little has happened,” and opined not to “spend too much time on Libra.”
While power brokers on Capitol Hill put Facebook’s Libra under the microscope this week, the yet-to-launch cryptocurrency is also getting its fair share of attention on Wall Street. Both Citigroup and JPMorgan executives weighed in on the imminent crypto during their firm’s respective earnings calls, raising questions about how it could upend an increasingly important […]
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