FTX Closes In On Acquiring BlockFi For Mere $25 million

CoinGape LogoCoinGape1 mo ago

FTX Closes In On Acquiring BlockFi For Mere $25 million

Quick Summary AI Powered

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.

More Pictures


Article Details

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:

Language: English

Reading Time: 2 minutes read

Article Length: 338 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 25750

View Article Analysis

About CoinGape

CoinGape Logo

Main Topics: Crypto

Official Website:

Update Frequency: 21 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 17h ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #59

Publisher Details

BEAMSTART brings you the latest news, jobs, and events from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2022 BEAMSTART. All Rights Reserved.