JPMorgan's takeover of First Republic highlights ongoing banking crisis.
TL;DR
Bitcoin dropped below $28,000 as federal regulators prepared to seize control of First Republic Bank, which was later purchased by JPMorgan. Ether followed a similar pattern, dropping more than 4%. The Federal Open Market Committee's monetary policy meeting, which begins Tuesday, may cause price fluctuations in the crypto market. After soaring in March, bitcoin rose a more modest 2.5% in April amid regulatory and macroeconomic uncertainties.
Topics:businesscryptocurrency#bitcoin#cryptocurrency#ether#federal-open-market-committee#first-republic-bank#jpmorgan
- Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank CoinDesk
- First Republic becomes second-largest bank failure in US history CNN
- Opinion | As First Republic neared collapse, the bank crisis isn’t over The Washington Post
- Opinion | The Banking Crisis Might Not Be Over Yet The New York Times
- JPMorgan Got a Deal on First Republic Bloomberg
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