XRP lawyer John Deaton questioned whether being named an authorized participant (AP) by BlackRock was an attempt to mislead the public or engage in gaslighting.

JPMorgan CEO Jamie Dimon is being hauled over the hot coals by the crypto community on X (formerly Twitter) after being named an authorized participant (AP) by BlackRock, which dropped its updated S-1.

Commenting on the BlackRock amendment, Bloomberg ETF analyst Eric Balchunas said, “BlackRock just dropped its updated S-1, and it DOES name the APs: Jane Street and JPMorgan (which is kinda ironic).” possibly referring to the choice of the investment bank as AP.

BlackRock's updated filing named Jane Street and JPMorgan Securities “authorized participants” in its proposed spot Bitcoin ETF application. However, JPMorgan's CEO, Jamie Dimon, hasn't consistently endorsed Bitcoin BTC tickers down $41,955 publicly.

In a Dec. 6 hearing of the Senate Banking Committee on oversight of Wall Street firms, JPMorgan Chase chair and CEO Jamie Dimon told several United States lawmakers that if he had the authority in government, he would try to shut down crypto, claiming Bitcoin BTC tickers down $41,955 and cryptocurrency’s “only true use case” is to facilitate crime.

Crypto pundits have quickly pointed out the hypocrisy of JPMorgan as an authorized participant in BlackRock’s Bitcoin ETF. “Perhaps money laundering, tax evasion, criminal participation, and drug trafficking is their business as well” said crypto enthusiast @silzimzil on X.

“If BlackRock wants to do all that, then fine, but how can JP Morgan do all that after telling Congress and Elizabeth Warren that this is what it’s used for?” another crypto user, @sunny051488, asked on X.

Source - Coin Telegraph