Top Crypto News July 21: Bitcoin Drops Below $30,000 and Other Important Stories
Daily news roundup of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help start the day.
Cryptocurrency Market Loses Nearly $100 Billion After Bitcoin Treasures
The cryptocurrency market lost about $98 billion after Bitcoin dropped below $30,000 for the first time in four weeks. The drop in the price of Bitcoin followed a massive sell-off in global markets, driven by an increase in cases of the COVID-19 virus. The Dow Jones Industrial Average fell 2.1% on July 19, its worst day since October 2020.
organizational pressure
EU tightens rules on crypto-asset transfers
European Union policymakers suggested on Tuesday that companies that transfer bitcoin or other crypto assets should collect information on senders and recipients to help authorities crack down on dirty money as part of the latest effort to boost sector regulation. Read the full story here.
Finance
FTX trading raises $900 million at a valuation of $18 billion
FTX Trading Ltd said on July 20 that its valuation had jumped to $18 billion after a $900 million funding round that included SoftBank Group Corp., which was one of the largest raisers for a crypto company. The course saw more than 60 investors participate, including venture capital firm Sequoia Capital, private equity giant Thoma Bravo, Daniel Lopez Third Point, family of Paul Tudor Jones and British hedge fund manager Alan Howard.
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