JP Morgan CEO Clarifies Plan Of Action For Banking Crisis; Bullish For Bitcoin?
Crypto Market News: Amid fear and uncertainty around US regional banking crisis, Jamie Dimon, the chief executive officer of JP Morgan, clarified about the Wall Street bank’s plan of action in the instance of further bank collapses in the United States. The clarification comes at a time when the US economy faces the danger of further bank collapses amid inflation concerns. Meanwhile, a lack of buyers for struggling regional banks would mean the US administration stepping up to mitigate the financial situation with emergency funding.
Also Read: Here’s Why Memorial Day Could Mark Change In Bitcoin Trader Sentiment
Recent crypto market trends, however, showed that uncertainty in the banking sector was actually bullish for Bitcoin price as the top cryptocurrency’s existence is centered around avoiding dependence on centralized entities like the banks while performing transactions.
No Further Bank Purchases: JP Morgan CEO
When asked whether JPMorgan would acquire any more struggling banks, Dimon said it was unlikely, speaking during the JP Morgan’s annual shareholder meeting earlier on Tuesday. Recently, JP Morgan acquired First Republic Bank, in the backdrop of the failure of Silicon Valley Bank and Signature Bank.
Also Read: OpenAI CEO Altman Testifies Before US Congress, What It Means For Crypto
- Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week
- Breaking: Michael Saylor’s Strategy Adds 390 BTC to Holdings as Bitcoin Surges Past $115k
- Solana, Cardano, Litecoin, Sui ETFs Delay Wipe Out Institutional Interest: CoinShares
- Is Changpeng “CZ” Zhao Returning To Binance? Probably Not
- Ripple-Backed Evernorth XRP Treasury’s Holdings Reach $1B Ahead of Nasdaq Listing
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
MEXC