Bitcoin dropped a further 1.0% to US$37,431 on Monday early afternoon, as the market is seeing more people HODL, while new potential crypto investors are reluctant to ‘buy the dip’ after a 50% nosedive in recent months. Meanwhile, its largest rival Ethereum, fell 0.9% to US$2,570. The world’s two leading cryptos continue to trade around 45% below record highs seen in November as investors shun riskier assets and instead seek safe havens from soaring inflation and fears of tightening global regulation.
Crypto exchange FTX has closed $400 million in a Series C round, growing its valuation to $32 billion, the money to be used towards product and service delivery, as well as obtaining global licenses.