JPMorgan Chase has employed former Celsius govt Aaron Iovine to be the manager director of digital belongings regulatory coverage, in keeping with Iovine’s LinkedIn profile. And if you happen to’re on the lookout for a straightforward reply as to how anybody may escape from the current Celsius disaster unscathed, we’re sorry to report we don’t have one.

The transfer, first reported by Bloomberg, comes after Celsius halted all withdrawals for customers in June and filed for chapter in July. Celsius owes customers $4.7 billion and there are severe questions on whether or not prospects will ever see their cash once more.

Iovine was the pinnacle of coverage and regulatory affairs at Celsius earlier than leaving in September after eight months with the doomed firm, however that’s not the one motive the manager rent is elevating eyebrows. JPMorgan CEO Jamie Dimon has beforehand known as cryptocurrency “a fraud” and repeated that sentiment whereas testifying throughout congressional hearings simply final month.

“I’m a major skeptic on crypto tokens, which you call currency, like bitcoin,” Dimon instructed lawmakers on September 21. “They are decentralized Ponzi schemes.”

Fittingly sufficient, Celsius and former CEO Alex Mashinsky are reportedly the goal of investigations by at the least 40 states into whether or not the crypto firm was working as little greater than a Ponzi scheme. Mashinsky withdrew about $10 million shortly earlier than the corporate collapsed, in keeping with the Financial Times.

But it doesn’t seem like Iovine is a part of these investigation into alleged wrongdoing, at the least so far as Gizmodo can inform. Which actually will get us questioning: What was Iovine doing as the pinnacle of coverage and regulatory affairs at Celsius? And why would JP Morgan be so prepared to rent a former govt from arguably the second greatest crypto implosion of the yr? The greatest, in fact, being Luna’s $60 billion collapse.

Iovine didn’t instantly reply to questions despatched by way of LinkedIn early Thursday morning. Gizmodo will replace this text if we hear again.