Crypto Exchange FTX Raises $900M, Now Valued At $18B – July 21


📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$31,392

Bitcoin price has bounced back strongly from yesterday’s dump, reclaiming the $31,000 level to begin Wednesday.

Top-20 altcoins have also rebounded very well, with Ethereum gaining 9%, Cardano bouncing 12% and Polygon leading with a 29% recovery.

Top Stories for July 21, 2021 🔥

👉 Crypto Exchange FTX Raises $900M, Now Valued At $18B

Cryptocurrency exchange FTX has successfully closed $900 million in a Series B funding round, valuing the company at $18 billion.

The funding round included investors such as SoftBank, Sequoia Capital, Paradigm and several others. It marks the largest crypto investment round to date, beating Circle’s $440 million deal that also closed this year.

👉 Weekend’s GBTC Unlock Means Most Shares Are Now Released

Grayscale’s Bitcoin trust unlocked around 16,240 BTC worth of GBTC shares on Sunday – the largest ever GBTC unlocking event in a single day.

According to data from Bybt, the number of shares unlocked in the weekend exceeds all of the remaining GBTC unlock events combined – implying that selling pressure from such events may have peaked.

👉 Circle Releases Breakdown Of USDC Reserves

Circle has published a breakdown of reserves for its stablecoin, USD Coin (USDC), showing that a majority (61%) of its backing comes from US dollars and cash-equivalents.

Other reserve assets include certificates of deposit from foreign banks, US Treasuries, commercial paper and corporate bonds.

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