Following four years in which JP Morgan Chase called crypto a “fraud”, the American investment bank is now looking to hire developers for Ethereum and blockchain development. “Well, well, well, how the turntables…” comes to mind.
The opening was posted on Glassdoor, a US-based job and recruiter website. The bank is looking for developers with experience in writing smart contracts, implementing business applications, and checking out crypto protocols on the blockchain.
In 2017, the current CEO of the bank, Jamie Dimon, declared that crypto assets were “worse than tulip bulbs” and that he’d fire any JP Morgan trader that deals with crypto.
The announcement indicates that JP Morgan is ready to join the crypto wagon. The bank also declared that it would be ready to deal with crypto if there is enough institutional demand.
The bank now also supports adding 1% into Bitcoin as a hedge fund, similar to how many other corporations are doing.
About 78% of the Bitcoin in circulation is lost or being hodled, which leaves only around 4 million Bitcoin for trading.