FTX Closes In On Acquiring BlockFi For Mere $25 million

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Weeks after FTX billionaire CEO gave out a $250 million credit facility to BlockFi, the crypto exchange is reportedly close to acquiring beleaguered BlockFi for a mere $25 million, 99% below BlockFi’s last private valuation as per CNBC.

BlockFi’s current equity investors will get wiped out Anonymous sources informed CNBC that the two companies, FTX The post FTX Closes In On Acquiring BlockFi For Mere $25 million appeared first on CoinGape.

An implication one of the investors tried to counter.

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Author / Journalist: Abigal .V.

Category: Crypto

Topics: Sam Bankman-Fried DeFi News FTX bailout Acquisition News BlockFi Crypto Winter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 18:07:21

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Reading Time: 2 minutes read

Article Length: 338 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 25750

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