Former Celsius Network CEO Aaron Iovine has hired JPMorgan Chase (NYSE: JPM) as executive director of digital assets regulatory policy, according to his LinkedIn page.
This comes only days after the bank’s CEO, Jamie Dimon, described cryptocurrencies as fraudulent, decentralized Ponzi schemes.
Iovine served as the director of policy and regulatory affairs for the failed cryptocurrency lender Celsius for eight months prior to his departure in September.
As the value of risk assets such as Bitcoin continued to collapse owing to the tightening of monetary policy, Celsius filed for bankruptcy in July. In May, the collapse of two large cryptocurrencies, TerraUSD and Luna, added to market pressure. Intriguingly, additional top Celsius executives withdrew $17 million in cryptocurrency prior to the company’s collapse.
Kristine Mashinsky, the wife of former Celsius CEO Alexander Mashinsky, seems to have taken almost $2 million in CEL tokens on May 31 according to records.
A JPMorgan spokesperson has confirmed Iovine’s employment elsewhere but has declined to provide any details. Dimon is renowned for his fierce opposition to cryptocurrencies.
During the previous week’s Institute of International Finance meeting, he maintained his criticism of digital assets, arguing that crypto tokens lacked value.
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