💸 [Analysis] BLOCKCHAIN: JP Morgan mints crypto JPM-coin, exposed to $10 trillion opportunity - Lex Sokolin

Fintech Analyst Lex Sokolin from Autonomous NEXT puts JPM Coin in contact in his weekly research note. Money supply is typically divided into M1 (cash/checks), M2 (other cash equivalents), and M3 (other synthetic equivalents like money market funds, “repo” agreements, and other overnight bank-to-bank obligations. In the US, M1 is ~$3 trillion. "Bitcoin wants to be cash/M1…On the other hand, M3 is another $10+ trillion, [and is] so obtuse and large that the Federal Reserve stopped publicly tracking it in 2006. This is what JPM coin is at its core. This is what all stablecoins -- tethered as cash sweep into their respective proprietary exchanges -- can ever become. A paltry $10 trillion."