Jamie Dimon Says He is ‘Jealous’ of Revolut, Then Attacks Crypto Reform
JPMorgan Chase CEO Jamie Dimon praised Revolut’s velocity this week however pledged to struggle the crypto-friendly CLARITY Act, which fintechs and neobanks have closely leaned on.
The distinction captures a wider struggle in finance. Dimon respects quick execution in banking, but opposes the foundations that permit crypto corporations develop with fewer safeguards.
Jamie Dimon Admires the Neobank’s Pace
Speaking about Chase’s UK operation, Dimon provided a blunt verdict on Revolut’s momentum as a British neobank’s.
“I’m jealous, rattling it. You watch these folks. They transfer,” Bloomberg reported, citing Dimon.
The envy has a foundation. According to its 2025 report, Revolut grew income 46% to $6 billion and lifted pretax revenue 57% to $2.3 billion.
Those beneficial properties mirrored record annual profit pushed partly by crypto and stablecoin volumes.
The agency now serves greater than 75 million clients and provides 1 million each 17 days.
If Revolut hits its $200 billion IPO goal, Nikolay Storonsky, CEO of Revolut, might be richer than Ken Griffin and Steve Schwarzman mixed.
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The Rules Dimon Wants to Fight
Days earlier than the Revolut remark, Dimon attacked Coinbase CEO Brian Armstrong and vowed banks would oppose the CLARITY Act.
“It might be fought. Don’t bow right down to this man or firm,” Dimon stated in an interview with Fox Business.
His objection facilities on yield. According to Fortune, Dimon argues stablecoin issuers mustn’t pay deposit-like curiosity with out financial institution capital, liquidity, and client guidelines.
He warned the construction may ultimately fail. The dispute has stalled the invoice, with banks blocking the stablecoin deal over yield phrases.
Banking lobbies now need the stablecoin yield language tightened additional earlier than any Senate vote.
Where Crypto Fits for Revolut
Crypto stays a progress layer reasonably than Revolut’s basis. Its wealth unit, which incorporates crypto, rose 31% to $876 million in 2025.
Eleven product strains every topped $135 million, so card charges and curiosity earnings nonetheless anchor the enterprise.
Revolut additionally runs crypto by means of separate entities, not its core financial institution.
Beyond buying and selling, its physical crypto card and wider crypto wealth push hold customers engaged. That steadiness is why a standard banker can envy the app whereas resisting looser crypto guidelines elsewhere.
The coming Senate debate will take a look at whether or not Dimon’s coalition reshapes the invoice, or whether or not fintech velocity retains outpacing the foundations.
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