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Silvergate, a banking partner of the bankrupt entities FTX and Alameda, will pay fines totaling $63 million to the Federal Reserve and the California Department of Financial Protection and Innovation (DFPI). Of this sum, $43 million will be paid to the Fed and $20 million to the DFPI. Additionally, the SEC seeks to impose another $50 million in penalties on the company. 
Bloomberg reports that Standard Chartered, a multinational financial corporation, is developing its own platform for trading Bitcoin (BTC) and Ethereum (ETH). This new division will operate as part of the bank's global banking sector, with its management hub based in London. 
Financial Services Committee Calls for RWA Tokenization Rules
On June 5, the U.S. Financial Services Committee hosted a public hearing titled "Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets." The event gathered experts including lawyers, representatives from government financial institutions, and private business executives. 
The U.S. Securities and Exchange Commission (SEC) will close its regional office in Salt Lake City, and two of its attorneys have resigned. This decision follows the regulator's defeat in court against the mining company Digital Licensing and its DEBT Box project, which began in July 2023. 
Tools for Humanity (TFH), the developer of the Worldcoin project, has recruited four former leaders from top tech companies (Google, Apple, and X) to enhance data privacy and security. Damien Kieran, who previously managed privacy at X, will now take on a similar role at Worldcoin. 
Cryptocurrency exchange Gemini has become a sponsor of the English football club Real Bedford, owned by Peter McCormack, host of the popular podcast What Bitcoin Did. The sponsorship deal was paid in Bitcoin, which will be used for club development and the launch of a youth academy. 
Amazon is set to launch a paid version of its Alexa voice assistant, aiming to monetize the system, which is currently non-profit, by integrating generative AI capabilities. Early reports suggest that the subscription for the premium Alexa service will cost around $5 per month. Elon Musk Launches Payment Service Without Crypto Integration
DOGE enthusiasts might face disappointment as Elon Musk has no plans to integrate the popular meme coin into the forthcoming X payment system. Additionally, the social media platform will not initially support any cryptocurrency transactions. Crypto Bros: Stereotypical Image of Crypto Advocates
‘Crypto bros’ make up a large part of the crypto culture. They are usually associated with men who got early into crypto, have had success with investments, or believe certain cryptos will “reach to the moon”. A distinctive quality of crypto bros is that they are passionate about cryptocurrencies, urging everyone to join in. 
Robinhood has entered into an official agreement to acquire the global cryptocurrency exchange Bitstamp. This deal will enable the platform to offer cryptocurrency trading services outside the U.S., as Bitstamp holds over 50 active licenses and registrations worldwide. 
Dapper Labs, creators of the NBA Top Shot NFT collection, will pay $4 million to settle a lawsuit with token holders who accused the company of selling unregistered securities. The plaintiffs have agreed to withdraw the lawsuit and refrain from filing future claims.