finance

Jamie Dimon says Facebook's libra is 'a neat idea that'll never happen'


Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the Bloomberg Global Business Forum in New York, on Wednesday, Sept. 25, 2019.

Tiffany Hagler-Geard | Bloomberg | Getty Images

J.P. Morgan Chase CEO Jamie Dimon is not bullish on the future of Facebook’s libra cryptocurrency.

“It was a neat idea that’ll never happen,” Dimon said Friday at a conference in Washington D.C.

Dimon’s comments come as a raft of corporate partners have dropped out of the libra crypto project. He added that his bank has a similar project called JPM Coin.

“We already have stablecoins, they’re not the first to do it,” Dimon said. “I’ve got nothing else to say about it.”



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