Aaron lovine, who was the former top executive of Celsius network, a cryptocurrency leading organization, has joined the US banking firm JP morgan as the head of the crypto regulatory policy. This step is taken by Aaron lovine after he resigned from the celsius network, as and when the cryptocurrency facilitator filed for bankruptcy in June this year.
Why Aaron lovine joined JP Morgan?
JP Morgan American investment bank and financial organization that provides all the regular facilities of the banks. Along with this, this 21-year-old bank also provides services like investment banking, asset under-management services, private Banking services, Private Banking, wealth management services along with treasury management services.
JP Morgan bank is considered to be one of the largest banks in the world as per market capitalization. This bank is considered to be the 5th largest bank in the US, in terms of capitalization of all assets management. The bank is also considered one of the big 4 banks in the world.
Who is Aaron Iovine?
Aaron lovine had worked with Celsius for around eight months, as top executive of the organization and had stepped down from the organization when the organization filed for bankruptcy this year in June. the prior crypto management experience of Aaron lovine will be effectively used by JP Morgan to work on the future of banking in the form of a new position created for lovine in the J P Morgan, that is Crypto Regulatory Policy Head for JP morgan.
Though JP Morgan CEO, Jamie Dimon had been skeptical about the performance and the future of cryptocurrencies calling them the Ponzi schemes, considering the future of technology, the organization has stepped into this role as a part of the organization’s next generation prospects.
What is cryptocurrency?
It is a form of digital currency in which all the financial exchanges are carried out with the help of a computer internet works which are interconnected with each other with the help of a central repository that will be interconnected with the help of the decentralized system of parties which makes sure all the transactions are happening without any financial intermediaries.
The important aspect of cryptocurrency is that it is maintained in one central digital database with the help of robust programming which cannot be traced or hacked by any individual. This currency is only available in the digital form, unlike the traditional banking system Fiat currency. With the help of some high-configuration devices, any individual with these specialized computers and devices can earn this cryptocurrencies by working on some important and tough puzzles.