FameEX Morning Crypto News Recap | April 7, 2023

Tether's Supply Reaches $80B for the First Time Since May 2022
https://www.fameex.com/en-US/news/crypto-trending-news-2023040701
According to a recent report, the market capitalization of Tether's circulating supply surpassed $80 billion for the first time since May 2022, with a gain of $15 billion in 2023 so far. 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.

NY Regulator dismisses "ludicrous" crypto theories linked to Signature Bank closure
https://www.fameex.com/en-US/news/crypto-trending-news-2023040702
Adrienne A. Harris, superintendent of New York’s Department of Financial Services, has dismissed claims that the closure of Signature Bank was related to its crypto business, calling them "ludicrous". Harris cited the bank's "high percentage of uninsured deposits" and insufficient liquidity as reasons for its closure.

Robinhood to Pay $10M Settlement to US State Regulators for Investor Failures
Robinhood, the company behind the cryptocurrency and stock trading platform, has agreed to pay more than $10 million in penalties to the California Department of Financial Protection and Innovation. The payment is due to operational and technical failures that harmed investors. The settlement is the outcome of an investigation by the North American Securities Administrators Association and securities regulators from several states. The platform's system outages in March 2020 caused users to miss out on trades while many of its services were unavailable.

Germany to Boost Startups by Issuing Electronic Shares on Blockchain
The German government is introducing the "Future Finance Act," which includes provisions to promote a welcoming regulatory environment for financial innovation startups in the country. The legislation aims to modernize and improve efficiency in the capital markets, with a focus on issuing electronic securities on a blockchain and enhancing the portability of crypto assets. The goal is to mobilize more private capital for future investments, according to 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.