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Crypto exchange FTX bails out lending platform BlockFi

Financial Times LogoFinancial Times1 mo ago

Crypto exchange FTX bails out lending platform BlockFi

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Sam Bankman-Fried has bolstered the stumbling $900bn crypto industry with his second bailout of a struggling digital assets firm in as many weeks.

The 30-year-old chief executive of crypto trading platform FTX has extended a $250mn loan to BlockFi, he announced on Tuesday.

Bankman-Fried added that he considered himself to have an important role in supporting struggling market participants even in cases where FTX is not involved.“I think that’s what’s healthy for the ecosystem, and I want to do what can help it grow and thrive,” he tweeted.


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Article Details

Author / Journalist: Joshua Oliver

Category: MarketsFinanceInvesting

Topics: Bankman-fried Assets Last Blockfi Financial Digital Industry Chief Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 17:18:50

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 5 minutes read

Article Length: 890 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 2509

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 16 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 19h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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