Every Friday One US Bank Collapses; Who’s Next On The Bank Run?

Also Read: FOMC, ECB: Bitcoin To Face Tough Week Ahead; Here’s Why

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Who’s Next On The Bank Run?

JPMorgan Chase (JPM.N) reportedly stated that it would buy most of the troubled First Republic Bank (NYSE: FRC) assets. Instead of witnessing a relief rally, banking stocks registered heavy selling.

PacWest Bancorp’s declining share price caught the attention of investors. It slid by worrying 28% to a record low in the last session to trade at $6.55. However, PacWest share price has dropped by almost 45% in the last 5 days. Read More Banking Crisis News Here…

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Meanwhile, another major US regional bank Western Alliance Bancorp (NYSE: WAL) registered a drop of 15% to stand at the trading value of $30.93, marking itself on the list of possible bank run. However, its stock price has been on a decline over the past 6 months, plunging by 53%.

Banking stocks remained volatile as the market saw a fourth lender collapse in just 4 months into the year 2023.

The crypto market seems to be rejoicing in the ongoing Banking Crisis as its cumulative cap jumped by around 1.5% over the last day to stand at $1.18 trillion.

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