CryptoWatch: FTX Regains Lost $7.3B Funds, Ethereum's Shapella Merger, and Crypto's Prices Now

Isaiah Richard, Tech Times 16 April 2023, 09:04 pm

CryptoWatch is here to deliver you the latest and top news of cryptocurrency that rounds up the past week, seeing a massive win for the digital coins and its industry, with FTX regaining the lost $7.3 billion funds. There is also the Ethereum merger with Shapella that will mark a new age for the blockchain and its operations in the world.

In today's time, there is also a significant rise of the top coins in the market, with Bitcoin finally returning to a $30,000 valuation, with others joining its rise.

FTX Regains its Lost Funds, as much as $7.3 Billion

In one of the top good news from the past week across the entire tech and cryptocurrency industry, FTX has regained its lost funds, with as much as $7.3 billion now in the hands of the company. This marks a new beginning for them, as it could be used to pay its investors and users from the crypto exchange platform and its rebirth.

According to Reuters' report, FTX is now awaiting the decision of its board and chair members regarding what to do with the money, particularly with a possible restart of the platform and going back into operations.

However, this time would be different as it would no longer be under its previous executives who admitted their guilt for fraud, and its former CEO Sam Bankman-Fried who is currently under investigation.

Ethereum's Merger with Shapella

Ethereum is shaking things up for the second top coin of the industry, as it will be upgrading the company to Shapella, as part of its recent merger that will deliver a new track for the blockchain. The upgrade is seeing its transition period now as it took place on April 12 to bring it to new beginnings, looking into a more accessible crypto for all.

One of the most iconic changes for this is the company now allowing to withdraw of the staked ether by investors and buyers of the coin, as was not allowed before.

With this change, the company is looking at as much as $30 billion of the funds unlocked to investors, but experts are seeing this as a threat to the coin's volatility as many may liquidate with this availability.

Top Coin's Prices Now

CoinMarketCap is seeing mostly green on the prices of the top coins now, as the graphs are seeing a slow but steady increase in the prices of the leading cryptocurrencies.

While Bitcoin played around $27,000 last week, it is starting this third week of April with as much as a $30,000 valuation in the present, up by around 5 to 6 percent.

On the other hand, Ethereum is also looking at an increase, now returning to its $2,000 valuation, up by 11 percent, amidst its merger.

Tether remains at a steady $1 valuation, with BNB taking the 4th spot with $343 closing in today. Lastly, it is USD Coin that took the 5th spot, with its $0.9994 price.