From the Desk of Anthony Pompliano Big Banks Admit They Were Completely Wrong About Crypto
Oct 31, 2025
Jamie Dimon shifts from critic to supporter of Bitcoin, signaling a major turn in big bank attitudes toward crypto. The episode dives into how banks are responding to client demand and the influence of Washington on market adoption. Coinbase's impressive earnings showcase its growing dominance, while plans for a White House-backed ETF open new investment opportunities. The conversation highlights the evolution of Bitcoin as a global macro asset, driven by institutional interest and retail adoption.
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Big Bank CEO Changes Position
- Jamie Dimon publicly reversed his stance and said crypto and blockchain are real and useful for transactions.
- Anthony Pompliano argues changing your mind with new information is a sign of intelligence and good for crypto adoption.
DC Shift Sparked Institutional Interest
- Brett Tejpal says banks will eventually hold Bitcoin and Washington, D.C. catalyzed this year's bull market.
- Institutional interest plus policy shifts created a ripple effect internationally for crypto adoption.
Coinbase's Rapid Rise Illustrated
- Pompliano recounts Coinbase's earnings showing $1.87B revenue and $433M net income as proof of scale.
- He highlights Coinbase now holds more assets than many banks and rivals Robinhood in assets under custody.