24/7 Cryptocurrency News

Crypto Expert Says Banking Crisis “Just Starting”; Here’s Why

Published by

Crypto Market News: The turmoil in banking sector came as a boon for the crypto market, as Bitcoin price took off over concerns of regional bank collapse in March 2023. A slew of measures initiated by the US Federal Reserve and easing market conditions were believed to be saving the US banking sector from a widespread banking collapse. After the collapse of Silvergate and Signature Bank in March, the decline of First Republic Bank (FRC) stock raised fresh concerns over stability in the sector. This comes amid reports that the bank’s seizure would soon be initiated by the Federal Deposit Insurance Corporation.

Also Read: PayPal’s Crypto Push: Over 60 Million Venmo Users Can Now Transfer Crypto

Hence, what started with Silvergate is now seen similarly with the First Republic Bank. In this context, a popular crypto expert commented that the banking crisis has just about started, although based on American television personality Jim Cramer. The CNBC host faces flak for what appears to be an ‘inverse’ prediction on stocks. In fact, some of the stocks he was bullish on declined immediately and vice versa, so much so that an “inverse Jim Cramer” strategy is popular among trader communities.

Advertisement

Banking Crisis Just Started?

Based on this inverse Jim Cramer strategy, XRP lawyer John Deaton, who represents over 70,000 XRP token holders in the XRP Vs SEC lawsuit, predicted that the banking crisis might just be beginning only now. He made the comment in response to Cramer’s statement that the First Republic Bank collapse could mark the end of banking crisis.

Hence, there is no substantial logic to Deaton’s prediction, although it can not be entirely ruled out. It may also be recalled that Standard Chartered Bank predicted that Bitcoin price could reach as high as $100,000 by 2024.

Also Read: Crypto Securities Debate: John Deaton Sends Open Challenge to the SEC

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by

Recent Posts

  • Ethereum News

Tom Lee’s Bitmine Immersion (BMNR) Adds Another $103M ETH to its Ethereum Stash

Bitmine Immersion, the largest Ethereum treasury company, quietly added another 23,823 ETH to its total…

October 10, 2025
  • Bitcoin News

Bitcoin Price Flashes Top Signal After Rejection At $125K

Bitcoin price has continued to trade below the $125,000 mark as the market undergoes a…

October 10, 2025
  • 24/7 Cryptocurrency News

Breaking: Grayscale Solana ETF (GSOL) to Trade with 0.35% Fee

With the U.S. Securities and Exchange Commission's (SEC) final decision on Grayscale Solana ETF (GSOL)…

October 10, 2025
  • 24/7 Cryptocurrency News

Roger Ver, ‘Bitcoin Jesus,’ Settles $48M Tax Fraud Case with U.S. DOJ

Roger Ver, widely known in the crypto world as “Bitcoin Jesus,” has reached a settlement…

October 10, 2025
  • 24/7 Cryptocurrency News

Senate Democrats’ New DeFi Regulation Proposal Stalls Crypto Market Structure Talks

Senate Democrats have proposed new regulations for decentralized finance (DeFi) that they want to include…

October 10, 2025
  • 24/7 Cryptocurrency News

Zcash (ZEC) Extends Rally Above $200 as Privacy Narrative Gains Reflexive Momentum

Zcash (ZEC) now trades above $200. The rally reflects a reflexive surge in investor belief,…

October 10, 2025