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.

Now that you read the latest newsletter, are you ready to receive it daily?