Several regional banks in the United States saw their share prices drop in after-hours trading, despite Federal Reserve Chairman Jerome Powell calling the banking sector "sound" and "resilient" just hours before. PacWest Bancorp fell over 50% after it was reported that the bank would explore strategic options on May 4. Other regional banks, including Western Alliance Bancorp, Metropolitan Bank, and HomeStreet, also saw significant drops in their share prices. Powell's attempt to quell concerns about the banking sector came as the Federal Reserve announced another 25 base points hike in interest rates. Crypto Twitter users mocked Powell's statement about the soundness of the banking sector, pointing to recent bank failures, including SVB, Silvergate, Signature, First Republic, and PacWest. (Cointelegraph)