Financial technology middlemen reportedly sent investment banking giant JPMorgan Chase 1.89 billion data requests in the month of June.

In an internal company memo reviewed by CNBC, a JPMorgan systems employee noted that only 13% of those requests were initiated by a customer for transactions.

“Aggregators are accessing customer data multiple times daily, even when the customer is not actively using the app. These access requests are massively taxing our systems.”

An anonymous source with knowledge of the memo tells CNBC that the requests often involve helping fintech companies bolster their products or stop fraud.

Earlier this month, JPMorgan informed fintech companies such as PayPal, Venmo and Coinbase that they will need to begin paying to access their customers’ bank account information, a move that sparked controversy in the digital asset sector.

Gemini co-founder Tyler Winklevoss claims the investment bank is attempting to sabotage fintech and crypto firms, accusing JPMorgan chief executive Jamie Dimon of trying to wreck President Donald Trump’s attempts to embrace digital assets.

“This will bankrupt fintechs that help you link your bank accounts to crypto companies like Gemini, Coinbase, and Kraken so you can easily fund your account with fiat to buy Bitcoin and crypto…

Jamie Dimon and his cronies are trying to undercut President Trump’s mandate to make America the pro-innovation and the crypto capital of the world. We must fight back!”

Dimon, however, defended the fee proposal during the bank’s second-quarter earnings call.

“So, this is very important. So forget pricing for a second, we are in favor of the customer, but we think the customer has the right to if they want to share their information. What we ask people to do is, what do they – do they actually know what’s being shared? What is actually being shared? It shouldn’t be everything. It should be what their customer wants. It should have a time limit because some of these things went on for years. It should not be re-marketed or resold to third parties. And so, we’re kind of in favor of all that, done properly.

And then the payment, it just costs a lot of money to set up the APIs (application programming interfaces) and stuff like that to run the system’s protection. So, we just think it should be done and done right. And that’s the main part. It’s not like you can’t do it.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Dan Ives, the global head of technology research at Wedbush Securities, believes that one stock market segment will continue to surprise investors with its upside in the next five years.

In a new CNBC Television interview, the investor says that stocks in the US tech sector will continue to print gains and trade above their fair value in the coming years.

According to Ives, the tech sector will witness massive developments in the years ahead, fueled by the rapid advancement and widespread adoption of artificial intelligence (AI).

“My view of tech, if you focus just on valuation, you missed every transformational tech stock in the last 20 years. I believe the market is still massively underestimating what growth is going to look like for the AI revolution in tech…

You could say some of these are expensive. You’ve got the next two, three, four, five years, given our view of autonomous robotics, that’s why I think we’re going to be talking about the Nasdaq 20,000, 25,000, over the coming years.

And that’s why any type of geopolitical sort of events, we always view as opportunities to own these names cheaper. That’s always been our view in the last 25 years covering tech.”

As of Tuesday’s close, the Nasdaq is trading at 21,719 points.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Banking giant Wells Fargo reportedly expects to see a massive price drop in the electric carmaker Tesla’s (TSLA) stock.

CNBC reports that in a note to clients, Wells Fargo automotive and mobility analyst Colin Langan says that Tesla’s core auto business continues to weaken, which could weigh down on the company’s stock.

“While ‘order’ pricing on the website appears stable over the [last 12 months], aggressive financing promotions continue to act as price cuts. Risk to Q2 margin remains given lower leverage.”

The bank is giving Tesla an underweight rating and a $120 price target, which means that the company’s shares could drop by 61% from Monday’s closing price of $308.58.

The bank’s bearish forecast comes even as investors anticipate the company’s robotaxi launch in Austin today. The vehicles are set to provide on-demand transportation without human drivers.

Lanang says that potential tailwinds, including Tesla’s work on autonomous driving, are not enough to offset weak automotive numbers.

“Most investor attention is directed at the June 12th Austin Robotaxi deployment. We doubt the likely limited debut will be enough to overshadow the poor fundamentals.”

Tesla’s global deliveries are down 23% year over year amid steeper competition in China. TSLA has already dropped by more than 22% in 2025. In June alone, the stock slumped by nearly 10%.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

A trader and analyst who accurately predicted the Bitcoin (BTC) bottom in November of 2022 is warning that Ethereum (ETH) is looking bearish overall on the weekly chart.

In a new video, the trader pseudonymously known as DonAlt tells the 66,200 subscribers of the TechnicalRoundup YouTube channel that ETH needs to reclaim the $2,000 level as support to start looking bullish again.

“The ETH chart, we’ve just broken down a bunch, and it needs to reclaim a little bit to look bullish. So right now, it’s still quite aggressively bearish, but we had a little bit of a good week. Reclaim $2,000 and we can start talking about major trend shift that we haven’t had in a long time.”

DonAlt also says that ETH needs to hold two key levels as support on the daily chart to keep alive the chance for a bullish reversal.

“What cannot be lost is basically down here [at ~$1,670]. Like you don’t want to see any close below here and you don’t want to see any move below the impulse move [at ~$1,540].”

ETH is trading for $1,764 at time of writing, down 2.2% in the last 24 hours.

Looking at Bitcoin, the analyst says if BTC can hold $90,000 as support on the weekly chart, it would likely confirm a bullish trend.

“Below here [$89,000], very scary. Close above $90,000 [on the weekly], early signal that the trend has shifted back to bullish again.”

Bitcoin is trading for $93,506 at time of writing, flat on the day.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Analyst and trader Benjamin Cowen believes Bitcoin (BTC) is primed to continue outperforming altcoins.

In a new strategy session, Cowen tells his 892,000 YouTube subscribers that the total market cap of altcoins (Total3) when paired against Bitcoin is going to continue on a downtrend.

Total3 is the total market cap of all cryptocurrencies with the exception of Bitcoin and Ethereum (ETH).

“…now altcoin/Bitcoin pairs are somewhat flat. I think they’re probably going to spend the next few weeks dropping just like they did last year… “

Cowen further says that Bitcoin is likely to continue outperforming altcoins until the US monetary policy eases.

“My base case right now for Bitcoin dominance is that it will likely go higher until quantitative tightening is over…

… I’m bullish on Bitcoin dominance because quantitative tightening has not ended. If the Federal Reserve were to end quantitative tightening at the next Federal Open Market Committee (FOMC) meeting, then it’s possible that my opinion would change.”

Bitcoin dominance is the ratio of the total market capitalization of BTC relative to all other crypto assets. A rising Bitcoin dominance indicates that Bitcoin is either rising faster relative to other crypto assets or its decline is relatively muted compared to the rest of the digital asset market.

On when the Federal Reserve could ease the US monetary policy, Cowen says,

“Now, I don’t know how long it’s going to take them to end quantitative tightening, it’s possible they end it this summer.”

Bitcoin is trading at $84,270 at time of writing.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Cryptocurrency trader and analyst Ali Martinez is leaning bearish on Solana (SOL) while updating his outlook on Bitcoin (BTC) and Ethereum (ETH).

Starting with Solana, Martinez tells his 135,500 followers on the social media platform X that the sixth-largest crypto asset by market cap could fall by up to 48% from the current level if SOL fails to break above the resistance area that lies below the $138 price.

“For all we know, Solana might be retesting the breakout zone from a right-angled ascending broadening pattern, with the $65 target still in play.”

Solana is trading at $125 at time of writing.

Turning to Bitcoin, Martinez says that the crypto king’s support zone at around $82,024 is a “level worth watching closely” as 96,580 BTC were accumulated at that price, according to data from analytics platform Glassnode. Accumulation patterns are on-chain metrics used to determine where buyer interest could potentially be found if the price falls to that level.

Bitcoin is trading at $83,999 at time of writing.

Next up is Ethereum. According to the crypto analyst and trader, Ethereum could be “gearing up for a major rebound” as the Tom DeMark (TD) Sequential indicator is flashing a bullish signal on the weekly time frame. The TD Sequential indicator is a tool in technical analysis used to identify potential trend reversal points on price charts.

Citing Glassnode’s data, Martinez further says that Ethereum is currently sitting above a major support level, going by the crypto asset’s accumulation patterns.

“The most critical support for Ethereum sits at $1,546.55, where 822,440 ETH were previously accumulated. A level worth watching closely!”

Ethereum is trading at $1,582 at time of writing.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

An analyst who accurately called the crypto market bottom in 2022 believes that one large-cap digital asset will be the fastest horse should conditions become bullish again.

In a new strategy session, the analyst pseudonymously known as DonAlt tells 66,000 subscribers of the TechnicalRoundup YouTube channel that he believes XRP has more upside potential and could outperform other crypto assets including Ethereum (ETH).

“I’m a big XRP believer in the sense that I think the XRP price is going to go up, just generally.

I think it’s the best. And I’ve been saying this since [it was priced at] $0.60. I think it’s the best coin to capture altcoin strength this entire market cycle.”

XRP is trading at $2.30 at time of writing, up by around 342% from the November 1st, 2024 price of around $0.52.

The pseudonymous analyst, however, says that while XRP possesses more upside potential than Ethereum, the latter would be a better crypto asset to hold during a downturn.

“If the market goes down, you’re going to be more happy having ETH than XRP. But if the market goes up, you’re going to massively outperform with XRP.”

Ethereum is trading at $1,900 at time of writing, down by around 31% from the November 1st, 2024 price of about $2,500.

Next up is Bitcoin (BTC). According to the pseudonymous analyst, Bitcoin’s recovery after falling to around $76,600 earlier this week is “good” but further downside corrections could indicate a bearish tilt.

“We bounced quite a bit before support [at slightly below $72,000], which I find good. I really don’t want to see us trade below $80,000 for too long. I generally think if we retest $70,000, that’s a massive sign of weakness. And it’s going to be much harder to come back from that.”

Bitcoin is trading at $84,319 at time of writing.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney