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Bitcoin gained 6 percent on Wednesday, ending its 5-day losing streak ,, as the cryptocurrency finally reached $29,000 after a week. Ether, which is the second largest cryptocurrency in terms of market value, grew by 4.5%. These moves come amid renewed concerns about the stability of U.S. banks. Shares of First Republic Bank fell 50% on Tuesday, after it revealed that its customers had taken more than $100 billion out of their accounts in just one month. Tuesday’s slide highlighted U.S. market, with the Dow Jones Industrial Average losing 1% and the tech-heavy Nasdaq 100 falling almost 2%.

Joseph Seibert who was the head of digital assets for Signature Bank and four of his Signet Team members have joined Fortress Trust. is a Nevada chartered trust that specializes on cryptocurrency and Web3. Signature Bank was a crypto friendly institution that was closed in March when depositors began withdrawing large amounts of money after the collapse of Silicon Valley Bank. Another bank with crypto connections. Signet is a popular payments platform for Signature’s institutional customers.

Talos is a crypto trading platform designed for institutional investors. The agreement with Coinbase Prime will allow Talos clients to access Coinbase Prime to access spot liquidity and custody. Coinbase Prime users will have access to Talos trading and connectivity services.

Chart of the Day

  • The chart below shows the changes in market value for the 10 most popular stablecoins from February.
  • Tether (USDT), which has a market cap of $81.5 billion and grew by 2.03% in April, is the clear leader. BUSD, USDC, and other currencies continue to fall.
  • TUSD’s Market Cap has risen by 4.19%, to $2.13 Billion.
  • Despite TUSD’s increasing popularity, the bitcoin trading pairs that are denominated in tether remain most liquid.

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Mark Nacinovich is the editor.