The Latest Breaking News from FTX

Dogecoin (CRYPTO: DOGE) traded 8.35% lower at $0.065 over 24 hours leading up to the early hours of Wednesday. The meme cryptocurrency declined along with the global cryptocurrency market cap, which fell 3.75% to $902.3 billion at press time.

Sam Bankman-Fried, founder and CEO of crypto exchange FTX, warns that some cryptocurrency exchanges may already be insolvent and that failures are imminent.

Robinhood Markets Inc (NASDAQ: HOOD) shares are trading higher by 14.19% to $9.14 Monday afternoon following a report that FTX is said to be exploring a deal for the company.

The Terra (CRYPTO: LUNA) crash caused the crypto market to plummet more than 67% from its all-time high, brought about individual investors to lose billions of dollars and triggered liquidations of crypto enterprises that could not repay overcollateralized margin loans.

Technology giants such as Apple Inc (NASDAQ: AAPL) and Samsung may have competition in the mobile phone market soon. A leading blockchain company announced a new mobile phone coming in 2023.

Over the past 24 hours, FTX's (CRYPTO: FTT) price has risen 6.9% to $27.56. This continues its positive trend over the past week where it has experienced a 17.0% gain, moving from $23.81 to its current price. As it stands right now, the coin's all-time high is $84.18.

FTX US announced its acquisition of Embed Clearing, a specialist in white label brokerage experiences it provides to broker-dealers and registered investment advisors.

BlockFi, a crypto lending firm, has confirmed a $250 million credit facility from FTX (CRYPTO: FTT).

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.