FameEX Morning Crypto News Recap | April 10, 2023

Allianz Warns US Economy in Danger of a Crash Landing
https://www.fameex.com/en-US/news/crypto-trending-news-2023041001
Allianz, one of the largest insurance companies worldwide, has warned that the US economy is at risk of a crash landing, with the economic momentum expected to deteriorate due to tightening credit conditions and the banking crisis. The insurance giant's analysts predict that the downturn will occur during the second half of the year.

Russian Law Enforcement Plans Crypto Asset Seizure, Seeks Authorization to Establish Wallets
https://www.fameex.com/en-US/news/crypto-trending-news-2023041002
Russian law enforcement agencies are pushing for the government's authorization to create and manage cryptocurrency wallets, which would allow them to seize digital assets during criminal investigations and subsequently sell them for the state's benefit. This is comparable to procedures already in place in the US and Europe.

US Bank Lending Sees Record Decline of $105 Billion in Two Weeks as Trillions Shift to Money Market Accounts, Elon Musk Predicts Acceleration of Trend
Bank lending in the United States has seen the largest decline on record, with a drop of nearly $105 billion in the last two weeks of March, following the collapse of three major banks. Trillions of dollars are being withdrawn from banks and moved to money market funds, according to recent reports. Tesla's Elon Musk predicts that this trend will continue to accelerate.

ECB Executive Raises Concerns Over Insufficient Cryptocurrency Regulations in EU
Despite the critical safeguards set to be established by the Markets in Crypto-Assets (MiCA) bill, a member of the European Central Bank Supervisory Board has cautioned that these measures will be insufficient in preventing incidents like the FTX case. The board member has identified certain areas that need to be further strengthened.

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