Bad loans have exploded, leading financial stocks to fall, and funds are shifting to gold for safety.

The news of bad loans from banks has shaken Wall Street, with financial stocks leading the decline. JPMorgan CEO Jamie Dimon stated at this week's earnings call, “When you see one cockroach, there are usually many more.” Crypto assets have all fallen sharply, with Bitcoin (BTC) struggling at 108K, experiencing a decline of up to 2.37% in 24 hours. Ether (ETH) has also dropped to $3,894, with funds shifting towards the historically safe-haven asset gold, which has surpassed $4,300 in spot price, setting a new historical high.

Zions'暴雷 has raised concerns about regional banks, are there more cockroaches?

After Zions Bancorporation revealed two business loan losses of $50 million and Western Alliance accused borrowers of fraudulent activities, investor concerns about private lending practices have intensified.

Jamie Dimon, the CEO of JPMorgan, said in this week's earnings conference: “When you see one cockroach, it usually means there are more.”

Jim Cramer: At least the Federal Reserve will lower interest rates as soon as possible.

CNBC's Jim Cramer stated that bad bank loans have paved the way for the Federal Reserve to cut interest rates, as they indicate that the economy is heading downhill. Cramer mentioned on the show:

“The situation today is indeed very bad, but at least we have finally found a way to allow the Federal Reserve to cut interest rates as soon as possible.”

Cramer emphasized that lower borrowing rates will generally stimulate the economy and reduce the default probability for borrowers. He believes that these credit issues should not further affect other markets.

Crypto Assets across the board have fallen sharply, gold is the true safe haven.

The crypto assets market has fallen by 2.36% in the past 24 hours, with the fear and greed index continuing to decline to a fear zone of 32. The altcoin season index has dropped to a low of 27, indicating that market confidence remains very weak.

Bitcoin is struggling at 108K, with a 24-hour fall of up to 2.37%. Ether has also dropped to 3,894 USD, and Crypto Assets are experiencing a widespread collapse, with up to 730 million USD worth of positions liquidated in 24 hours. Funds are being transferred to the historically established safe-haven asset gold, which has seen Spot gold exceed 4,300 USD, setting a new historical high.

DAT nearly all lines fall

Digital Asset Financial Company (DAT) experienced a near-total collapse yesterday. It can be seen that when market confidence is unstable, the more leverage there is, the easier it is to be prioritized for liquidation.

MicroStrategy (MSTR): fall 4.35%

Metaplanet (3350.T): fall 6.52%

BitMine (BMNR): fall 5.06%

SharpLink (SBET): fall 3.83%

Forward Industries (FORD): rise 1.29%

Upexi (UPXI): fall 6.81%

DeFi Development (DFDV): fall 8.31%

This article discusses the explosion of non-performing loans, with financial stocks leading the decline and funds shifting towards gold as a hedge. It first appeared in Chain News ABMedia.