Billionaire Arthur Hayes predicts Bitcoin rally as New York Community Bankcorp faces bankruptcy and shareholder lawsuit

According to billionaire crypto investor Arthur Hayes, New York Community Bankcorp (NYCB) is gradually moving towards bankruptcy after being downgraded to junk by Moody's due to financial risks and governance challenges. The bank's recent setbacks include a loss in earnings, a cut in dividends, and troubled loans tied to commercial real estate. Hayes predicts that Bitcoin's price will rally in response to upcoming Fed money printing, but warns that a new bailout may be necessary if NYCB and other banks' stock prices continue to plunge. Shareholders have also filed a class action lawsuit against NYCB for allegedly defrauding them by failing to disclose increasing reserves for troubled loans and cutting dividends.

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