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Jamie Dimon Wants To Kill Stablecoins — Key Takeaways

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Jamie Dimon Wants To Kill Stablecoins

Coin Bureau13mJul 14, 2026

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JP Morgan's Jamie Diamond is lobbying against yield-paying stablecoins while simultaneously launching his own deposit token (JPMD) on Coinbase's Base blockchain, exposing the fight as margin protection — not systemic risk management.

Key takeaways

JP Morgan launched its own tokenized dollar on Coinbase's blockchain while lobbying to ban yield-bearing stablecoins

JP Morgan launched its own tokenized dollar on Coinbase's blockchain while lobbying to ban yield-bearing stablecoins

  • JPMD went live November 2025 on Base — the blockchain built by Coinbase, the company Diamond publicly called 'full of shit'
  • Diamond's April 2026 shareholder letter called stablecoins an 'existential threat' and told investors JP Morgan must race to compete

White House analysis: banning stablecoin yield protects banks by 0.02% while costing consumers $800M

White House analysis: banning stablecoin yield protects banks by 0.02% while costing consumers $800M

  • White House CEA found banning yield raises bank lending by just $2.1B — a rounding error on total credit
  • The Genius Act already forbids stablecoin issuers from lending reserves, collapsing the 'shadow banking' systemic risk argument

OpenUSD consortium — Visa, Mastercard, BlackRock, Google, Coinbase — launched June 30, 2026 with yield-sharing model

OpenUSD consortium — Visa, Mastercard, BlackRock, Google, Coinbase — launched June 30, 2026 with yield-sharing model

  • Unlike Tether/Circle, OpenUSD distributes nearly all reserve yield back to businesses using it — the exact model Diamond is fighting
  • Stablecoin volume hit $1.79T in June 2026, up 125% YoY, with Base (Coinbase's chain) capturing 31% of that market

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In this video

  1. 1mJamie Dimon vs Coinbase: The War Over Your Money
  2. 3mWhy Banks Fear Yield Paying Stablecoins
  3. 6mThe $6 Trillion Bank Run Warning
  4. 8mJPMorgan’s Stablecoin Hypocrisy Exposed
  5. 11mWhy the CLARITY Act Is Stuck

“No one's going to bow down to this guy or that company.”

— Jamie Dimon

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