Dogecoin Community Exploration
Discover the deeper value of dogecoin and the latest developments of dogecoin whales.
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Jun / 05
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- FDIC Reveals 63 US Banks at Risk of Insolvency, $517B in Unrealized Losses
- Jun 05, 2024 at 12:59 am TheNewsCrypto
- Sixty-three US banks reported staggering unrealized losses of $517 billion in Q1 2024, a $39 billion increase from the previous quarter. This has heightened concerns over the stability of the economy and financial sector. Weak manufacturing data pushed the ISM Manufacturing PMI below expectations, fueling speculation of an interest rate cut by the US Federal Reserve. Bitcoin surged past $70,000 in anticipation of a rate cut, while US banks continue to face pressure from rising interest rates and delayed rate cuts.
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