Another week of cryptocurrency round-up is here with CryptoWatch, and this week, the top story is another downfall of a significant name in the industry, FTX, particularly for its operations in Australia. The company is now losing its license to operate, and this was after its initial demise.
It is also joined by two other stories in the tech industry, particularly with Bybit which is seeing its continued operations and even participating in the Lamborghini Super Trofeo Asia 2023. Moreover, let us venture towards the prices of the top coins in the market to see their changes.
FTX Loses License to Operate in Australia, Files Bankruptcy
The Australian Securities and Investment Commission (ASIC) announced Wednesday that it has canceled the Australian Financial Services (AFS) license of FTX Australia effective July 14. It is another significant scrutiny against the company which is looking to rebuild itself in the industry, also tapping into other markets globally.
FTX is allowed to continue limited operations in the country until next year, July 12, 2024, but it should only be intended for terminating derivatives with clients.
As per Reuters, the regulators expect that this transition period would already be enough for FTX to complete and end all of its existing operations in the country.
Bybit, VIPs are Coming to the Super Trofeo Asia 2023
An unforgettable experience happened early last week, as Bybit and eight selected VIPs were a part of the Safehouse team's festivities and activities during its entry on the Lamborghini Super Trofeo Asia 2023.
It is known that Bybit had recently announced its sponsorship for the Safehouse team, as they compete in one of the world's most adrenaline-pumping events.
The locations include Japan's Suzuka Circuit and the Fuji International Speedway, with the Lamborghini supercars roaring and speeding at the challenging course of the Japanese circuits.
"It's an honor to contribute to this high-profile event and witness the incredible ingenuity of the Lamborghini motorsports and passionate team members," said Ben Zhou, co-founder, and CEO of Bybit.
Here's the Latest Prices of the Top Cryptos
The crypto industry has improved significantly since its state back in early 2023 when it was seeing a shaky footing on its rankings and other rallying coins.
Fans and believers have surely helped in rallying the prices of the coins in the past weeks, with Bitcoin already near the $30,000 threshold, as what it previously aspired for. Its current selling price is at $29,880, give or take, but saw a 1.40% drop in its value over the last seven days.
Ethereum also grew, from its close to $1,000 valuation, now seeing $1,875, with a more significant drop of 2.45 percent in the past week.
USDT follows in the third spot which is at $0.9999 where it remains unstable. XRP followed at the 4th spot and followed by Binance's BNB. Dogecoin also climbed back into the top 10, now taking the 8th spot with good numbers on its last week's performance.
