Sam Bankman-Fried’s cryptocurrency exchange FTX is reportedly close to signing an agreement to acquire the entirety of the market’s leading cryptocurrency lending and staking platform BlockFi.
CNBC, 30 June By referring to three different sources close to the subject in his news dated FTXin the past weeks A $250 million revolving credit facility provided by BlockFi‘of close to an agreement to buy it all for $25 million reported. BlockFiabout a year ago 5 billion dollarsIt had a valuation.
According to a source the deal is almost done and The preliminary contract is expected to be signed by the end of the week. while another source said that the value of the deal Friday may change from day to day and 50 million dollarsHe said he could go up to .
An FTX spokesperson said the company “will not comment on the subject” while a BlockFi spokesperson similarly “not commenting on market rumors” told.
BlockFi CEO Zac Princeon Twitter after the news in sharing denies the company was sold for $25 million and made the following statements:
There are a lot of rumors out there – I can 100% confirm that we weren’t sold for $25 million. I urge everyone to trust only the details they’ve heard from BlockFi. We will share more with you as soon as possible.
Because of the troubled days in the current market conditions June per month 170 people number of laid off employees 20% reducing BlockFishortly after receiving a loan from FTX that the cryptocurrency exchange attempts to buy shares in the company when reporting interest rates on the platform had increased.