Bitcoin price prepares a rally to $35,000 as another wave of the banking crisis will put additional pressure on the U.S. central bank Federal Reserve balance sheet. The U.S. government is likely to take First Republic Bank under the FDIC receivership this weekend, as per a report by Wall Street Journal on April 29.
First Republic Bank is not the only bank at risk, 4–5 banks are currently facing bank deposit withdrawals in billions. Fed needs to print more money for rescuing cash-strapped banks on the brink of collapse.
FDIC Receivership of First Republic Bank Likely This Weekend
According to the Wall Street Journal, the FDIC receivership of First Republic Bank is to likely come this weekend. Moreover, banks including JPMorgan Chase & Co and PNC Financial Services are already preparing to buy First Republic Bank following the closure by the government.
First Republic’s shares have been in free-fall since Monday, plunging over 75% to $3.51 at market close on Friday. During the
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