It turned out that bankrupt cryptocurrency exchange FTX bought tens of millions of dollars of shares of crypto platform Blockfolio using FTT.
In the news published by Bloomberg on December 22, FTX’s 2020 84 million dollars worth blockfolio in the purchase of shares FTT turned out to be used. During the acquisition process, FTX’s public opinion on payment methods descriptions reached later did not match the documents.
In the documentation, Blockfolio’s 160 million dollars total share with valuation to 52% a corresponding part 84 million It was seen that he sold it to FTX for $. FTX, payment at time of purchase equity capital, cash and crypto- mix hybrid by a method Although it was reported that it was done, this did not coincide with the documents that emerged. Approximate total amount in documents of 94% part of the exchange’s native token, FTT. was paid seen. FTT since 2020 when the purchase was made 80% of on value loss lived.
Also in the documentation, to FTX two year in the rest of the company buy taking right reported to be known. However, experts believe that the bankrupt cryptocurrency exchange can now make such a purchase. not likely.