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JPMorgan Stock Slides on Epstein Probe Fears: Bitcoin Has No CEO to Drag Into the Scandal
Alongside the rest of the market, shares of JPMorgan Chase tanked at the end of the previous week, but there's more to the story.
JPM's decline also came after reports emerged that Senate Democrats are preparing a fresh investigation into the banking behemoth's relationship with convicted sex offender Jeffrey Epstein. Although there's no real connection with Bitcoin, we decided to still cover this and highlight the awkwardness, as JPM's CEO, Jamie Dimon, has spent years bashing the crypto industry. JPMorgan Faces New Epstein Scrutiny CNBC reported after the Blue-nami in the US midterms that Democratic staff on the Senate Finance Committee plan to examine how senior JPM executives handled Epstein as they take control of Congress early next year. Mary Erdoes, CEO of the bank's Asset & Wealth Management Division, is expected to be among the high-profile names in the investigations.
