BlockFi Clears Up Rumors, Crypto Exchange FTX Will Have $240 Million Purchase...
Crypto lending platform BlockFi addressed the rumors of a potential purchase from major crypto exchange platform FTX. Initially reported by U.S. news outlet CNBC, the company was allegedly being bought by FTX at a $25 million valuation, a 99% discount from its nearly $5 billion 2021 valuation. Related Reading | Colombia Launches National Land Registry on […]
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BlockFi, a cryptocurrency lender that just closed a $400 million loan and possible purchase conditions with cryptocurrency exchange FTX, is providing staff buyouts as a covert means to cut down on manpower. One month after reducing its workforce by 20%, the change was made. BlockFi Offers COBRA According to a BlockFi employee, the company is […]
BlockFi, Celsius, Nexo, and more: tough times can lead to difficult measures, and this year’s bear market is showing no exception to some of these players. Look no further than the current state of affairs for centralized finance (CeFi) platforms, who have been facing substantial headwinds with no end in sight. Now, after days of rumors and reported exploratory deals, reports have emerged that powerhouse crypto exchange FTX is putting together the final ties around an acquisition deal of BlockFi at just a $25M valuation. The news comes after reports emerged that FTX passed on an....
The reportedly ongoing talks followed BlockFi signing a term sheet with FTX to secure a $250 million revolving credit facility on Tuesday. Crypto exchange FTX is reportedly in talks to acquire a stake in BlockFi following the company issuing a $250 million credit to the lending firm.According to a Friday report from the Wall Street Journal, FTX is currently in discussions with BlockFi regarding the crypto exchange purchasing a stake in the firm, but no equity agreement has been reached. The reported ongoing talks followed BlockFi signing a term sheet with FTX to secure a $250 million....
Crypto exchange FTX is set to make the best buyout deal this year when it finalizes terms to acquire BlockFi, a crypto lending services platform that rose to prominence following the 2021 bull run. A new report has it that the floor price for FTX.US’ acquisition agreement with BlockFi has been placed at $15 million, with […]
Although it admitted to “significant exposure,” the crypto lender assured clients that it has “the necessary liquidity to explore all options.” Crypto lender BlockFi issued an official notice to its clients on Nov. 14 denying rumors that the majority of its assets were on FTX prior to the exchange’s collapse. According to an update shared by BlockFi, although a majority of its assets were not on FTX, it still has “significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line....