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FameEX Morning Crypto News Recap | April 7, 2023

2023-04-07 11:34:15

Tether's supply hits $80 billion, highest since May 2022
Tether's circulating supply market capitalization has exceeded $80 billion for the first time since May 2022, with a gain of $15 billion in 2023, according to a recent report. This rise in popularity is likely due to growing concerns around other stablecoins such as USD Coin and Binance USD, leading crypto traders to opt for Tether.

New York Regulator Dismisses Crypto Theories Linked to Signature Bank Closure as "Ludicrous"
New York’s Department of Financial Services Superintendent, Adrienne A. Harris, rejected allegations that the closure of Signature Bank was linked to its cryptocurrency business, calling them "ludicrous." Harris stated that the closure was due to a high proportion of uninsured deposits and inadequate liquidity.

US State Regulators Reach $10M Settlement with Robinhood Over Investor Failures
Robinhood, the cryptocurrency and stock trading platform, will pay over $10M in penalties to the California Department of Financial Protection and Innovation for operational and technical failures that harmed investors. The settlement comes after an investigation by securities regulators from multiple states and the North American Securities Administrators Association. The platform's outages in March 2020 caused users to miss trades as several services were unavailable.

Germany Plans to Enhance Startups by Utilizing Blockchain for Issuing Electronic Shares
The German government is set to introduce the "Future Finance Act" that seeks to foster a friendly regulatory environment for financial innovation startups in the country. The proposed legislation aims to modernize and enhance efficiency in the capital markets by using blockchain to issue electronic securities and facilitate seamless portability of crypto assets. The main objective is to mobilize more private capital for future investments, as stated in a translated version of the draft bill.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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