The impression I'm getting is that the banks are now realizing it's probably too late for them. For the last 7 years they had some chances, but now with a $150 billion market cap for crypto, they can't purchase any significant share of the technology anymore. That ship has sailed.

So now they can only resort to shit flinging and disparaging remarks like "Bitcoin is a fraud". While at the same time trying to make their own altcoin...

Via FT Alphaville [1], he says, "I’m going to be really clear in this one. Forget the blockchain, that’s a technology… But… the currency isn’t going to work." The article also points this out, but doesn't differentiate it which has the effect of making him sound hypocritical.

> JPMorgan and many of its competitors, however, have invested millions of dollars in blockchain, the technology that tracks bitcoin transactions. Blockchain is a shared ledger of transactions maintained by a network of computers on the internet.

[1]: https://ftalphaville.ft.com/2017/09/12/2193624/money-creator...