### It has been a painful week for crypto as the bear market continues to linger and the BTC price has been looking shaky. Even so, JP Morgan has just received approval for its wallet patent - a sign that JP Morgan hasn’t written off crypto.

The crypto industry seems to be limping along in a seemingly endless crypto winter. Retail investors are still licking their wounds and nursing their severely beaten portfolios. 

If there was anytime to doubt whether crypto can push through its troubles, it would be now. 2022 has been full of greed induced bankruptcies, and the damage dealt affected many regular investors. 

While this is a painful time it also confirms that the demand for crypto has been so intense, even ‘shady’ exchanges managed to have customers ‘lining up’ to hand their money over. 

One could even argue that the demand isn’t really going anywhere; we are simply going through a moment of shock and course correction. When the dust settles, demand will return and crypto will begin a new and larger cycle. 

JP Morgan would perhaps agree to this. The patent, as approved, appears to include financial services such as transfer of cryptocurrencies and digital assets as well as cash and credit payments. 

JP Morgan appears to be ready--or is positioning to be ready-- to provide more crypto services. Curiously, JP Morgan’s President Jamie Dimon has been a long-time critic of bitcoin and crypto. 

In 2017, Jamie Dimon was quoted saying that bitcoin is a fraud that will blow up; and in 2021, called bitcoin a decentralized Ponzi scheme. Yet, JP Morgan has been providing crypto services to select clients for many years, and has recently been quietly increasing the services and the clients to which the services are offered. 

While Jamie Dimon may personally not have any affection for bitcoin or crypto, he (or others in JP Morgan) perhaps concedes that the market is showing strong and growing appetite for crypto services. 

With its wallet product imminent, JP Morgan appears poised to offer services to retail customers, and may be gearing up to fill the vacuum left by the many bankrupt crypto service providers. 

One thing is practically certain, this move to patent a crypto+ wallet confirms that JP Morgan is bullish on crypto demand over the long-term. 

It has been a painful week for crypto as the bear market continues to linger and the BTC price has been looking shaky. Even so, JP Morgan has just received approval for its wallet patent - a sign that JP Morgan hasn’t written off crypto.

Tue Nov 22 2022

JP Morgan Patents a Crypto Wallet

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Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

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Prototype Global Cryptoasset Mapping System Developed

Tue Nov 22 2022 JP Morgan Patents a Crypto Wallet

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Tue Nov 22 2022

JP Morgan Patents a Crypto Wallet