BlockFi announces deal with FTX US, including 'option to acquire' for $240M
According to CEO Zac Prince, BlockFi signed agreements with FTX US totaling $680 million — for a company that had a $5 billion valuation in June 2021. FTX US has inked a deal with BlockFi that will give the crypto derivatives exchange the option to purchase the lending firm.In a Friday Twitter thread, BlockFi CEO Zac Prince said the crypto lending firm had signed agreements with FTX US for a $400-million revolving credit facility as well as the option to acquire BlockFi “at a variable price of up to $240 million based on performance triggers.” According to the CEO, the deal was reached as....
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According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used to acquire Blockfi at a variable price up to that amount.
FTX Could Buy Blockfi for $240 Million, CEO Zac Prince Says Company Lost $80 Million From 3AC Exposure
Zac Prince, the co-founder of Blockfi, explained that his company has come to an agreement with Sam Bankman-Fried’s crypto firm....
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 […]
A leaked investor call from Tuesday discloses that Morgan Creek Digital is attempting to collect $250 million from investors to acquire a controlling interest in crypto lender BlockFi. Through participation in BlockFi’s D series fundraise, the cryptocurrency investment firm is one of the company’s largest investors. Recently, the New Jersey-based cryptocurrency lender BlockFi announced that […]
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....
A Curve spokesperson has confirmed they have been in negotiations to acquire BlockFi's credit card program's customers since Nov. 12. Payments company Curve is in active discussions to acquire crypto lender BlockFi's more than 87,000 credit card customers — whose credit cards have been suspended since Nov. 11. A Curve spokesperson told Cointelegraph that “outreach and negotiations” started on Nov. 12 and are still in the process with Banking as a Service (BaaS) company Deserve, which services the BlockFi card program. My BlockFi credit card has officially stopped working. R.I.P....