The worldwide cryptocurrency market capitalization Tuesday is at $921 billion, up from $892 billion on Friday afternoon.
Following an announcement that it would cut staff by 20%, BlockFi said this morning that it signed a term agreement with crypto lender and platform FTX to secure a $250-million revolving credit facility.
This agreement will provide capital that “further bolsters” BlockFi’s balance sheet and platform strength, according to BlockFi CEO Zac Prince.
After Terraform Labs’ cryptocurrency failed, leaving investors with losses in the billions, South Korean prosecutors have barred the company’s employees from leaving the country pending an investigation.
This follows allegations that Terraform founders and the company deceived investors with defective algorithmic coins. Travel restrictions were imposed on around 15 people, including former project developers for the Anchor lending protocol.
Bitcoin BTC/USD, the most popular cryptocurrency, is up 2.75% in the last 24 hours, rebounding from Friday’s lows of $17,700. The coin priced at $21,051 on Tuesday morning.
Let’s take a peek at some of the other top cryptos.
The popular altcoin used mainly for the purchase of NFTs remains buoyant, floating around 52-week lows. The coin is trading at $1,145.42.
The “fast, secure, and scalable” coin is trading 5.05% higher in the last 24 hours, with prices hovering around $37.30 on Tuesday.
Binance’s native coin is trading 3.92% higher to $221.02.
The ever-popular altcoin is trading 7.44% higher to $0.064.