The news of banks' bad loans has shaken Wall Street, with financial stocks leading the downturn. JPMorgan Chase CEO Jamie Dimon stated during this week's earnings call: "When you see one cockroach, it usually means there are more." Cryptocurrencies have collapsed across the board, with Bitcoin (BTC) struggling at 108K and a 24-hour drop of up to 2.37%, while Ethereum (ETH) has fallen to $3,894. Funds are shifting to the historically reliable safe-haven asset gold, with spot gold breaking through $4,300, setting a new all-time high.

Zions' Blowup Raises Concerns About Regional Banks—Are There More Cockroaches?

After Zions Bancorporation disclosed $50 million in losses on two commercial loans, and Western Alliance accused borrowers of fraudulent behavior, investor concerns about private lending practices have intensified.

JPMorgan Chase CEO Jamie Dimon stated during this week's earnings call: "When you see one cockroach, it usually means there are more."

Jim Cramer: At Least the Fed Will Cut Rates Soon

CNBC's Jim Cramer said that bad bank loans are paving the way for the Federal Reserve to cut interest rates, as they indicate the economy is heading downhill. Cramer stated on his show that the situation is indeed bad, but at least we've finally found a way to get the Fed to cut rates soon.

Cramer emphasized that lower borrowing rates will generally stimulate the economy and reduce the probability of borrower defaults. He believes these credit issues should not further impact other markets.

Cryptocurrencies Collapse Across the Board, Gold Is the True Safe Haven

The cryptocurrency market has fallen 2.36% in the past 24 hours, with the Fear & Greed Index continuing to slide to 32 in the fear zone, and the Altcoin Season Index dropping to a low of 27, indicating that market confidence remains very weak.

Bitcoin is struggling at 108K with a 24-hour drop of up to 2.37%, while Ethereum has fallen to $3,910. Cryptocurrencies have collapsed across the board, with up to $720 million in positions liquidated in 24 hours. Funds are shifting to the historically reliable safe-haven asset gold, with spot gold breaking through $4,300, setting a new all-time high.

DAT Nearly Collapses Across the Board

Digital Asset Trust (DAT) companies nearly collapsed across the board yesterday, showing that in times of unstable market confidence, the more leverage there is, the more likely it is to be sold off first.

MicroStrategy (MSTR): Down 4.35%

Metaplanet (3350.T): Down 6.52%

BitMine (BMNR): Down 5.06%

SharpLink (SBET): Down 3.83%

Forward Industries (FORD): Up 1.29%

Upexi (UPXI): Down 6.81%

DeFi Development (DFDV): Down 8.31%

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