Crypto Lender Blockfi Secures $250 Million Line of Credit From FTX,  CEO Says...

Crypto Lender Blockfi Secures $250 Million Line of Credit From FTX, CEO Says...

The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains $250 Million Revolving Credit Line From FTX After Crypto Lending Firms Struggle With 2022’s Market Volatility It’s been a rough year for crypto lenders due to digital assets losing significant value over the last few months. One lender, Celsius, has been accused of....


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Crypto exchange BlockFi secures $250M credit from FTX amid bear market

At a time when a significant number of crypto platforms are struggling to remain afloat, BlockFi hopes the new credit line would help them secure user’s funds BlockFi, a cryptocurrency exchange and digital wallet service provider, has secured a $250 million credit from leading crypto platform FTX.Today @BlockFi signed a term sheet with @FTX_Official to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength.— Zac Prince (@BlockFiZac) June 21, 2022 BlockFi has signed a term sheet with FTX crypto....

Morgan Creek Said To Be In Bid To Secure $250-M To Counter FTX BlockFi Bailout

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BlockFi limits platform activity, including a halt on client withdrawals

"We intend to communicate as frequently as possible [...] but anticipate that this will be less frequent than what our clients and other stakeholders are used to." Crypto lender BlockFi has halted client withdrawals on its platform as part of a broader limit to activity in the wake of FTX’s collapse.pic.twitter.com/zNF1uP6evl— BlockFi (@BlockFi) November 11, 2022 The company said in the Nov. 11 tweet that a “lack of clarity on the status of FTX.com, FTX US and Alameda” has prevented it from being able to operate as normal.As a result, it has limited platform activity until there is....