$BTC gains 6% on a possible move away from traditional banks after firstrepublic's shares drop 50% on Tuesday as the bank's deposits fell by $100 billion last month. LedesmaLyllah reports.
as the cryptocurrency reached $29,000 for the first time in a week. Ether, the second-largest cryptocurrency by market value, rose 4.5%. The moves up come as concerns over U.S. banking stability ramp up again, with shares of First Republic Bank dropping 50% on Tuesday after the San Francisco-based lender revealed that customers pulled more than $100 billion from their accounts last month.U.S.
Joseph Seibert, who was head of digital assets at Signature Bank, and four members of his Signet team have joineda Nevada-based chartered trust company that specializes in cryptocurrency and Web3. Signature Bank, which was a crypto-friendly institution, was shut down in March after depositors withdrew large sums of money following the collapse of Silicon Valley Bank, another bank with crypto ties.
With rising demand from institutional investors for more secure and efficient trading platforms, the agreement offers Talos customers access to for spot liquidity and custody services, according to a press release. The pact will also give Coinbase Prime customers access to Talos’ trading and connectivity products.The chart shows changes in the market value of the top 10 stablecoins since February.
Tether has strengthened its dominance for the third straight month in April, with its market cap rising 2.03% to $81.5 billion, while BUSD and USDC continued to lose ground.Despite TUSD's growing popularity, the tether-denominated bitcoin trading pairs
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