Tether, a stablecoin issuer, reduced its bank deposits from $5.3 billion to $481 million in Q1 to mitigate the risk of bank failures. The company also diversified its asset reserves by adding gold and bitcoin, which account for 4% and 1.8% of its total reserves, respectively. The US government is reportedly planning to crack down on crypto exchanges. Meanwhile, Lido Finance has staked over 6.2 million ETH, and the next bullish catalyst for Bitcoin is said to be the realized price getting above Long Term Holder RP. CZ, the CEO of Binance, has unfollowed Elon Musk on social media, causing speculation in the crypto community. Lastly, JPMorgan and financial regulators have accused Gary Gensler of jurisdictional overreach and disrupting well-functioning markets.