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Ethereum World News
2022-06-30 18:19:37

FTX to Buy BlockFi at a Discount of $25M and 99% Below the Lending Platform’s Last Valuation

FTX to Buy BlockFi at a Discount of $25M and 99% Below the Lending Platform’s Last Valuation

Summary: FTX is inches away from finalizing its acquisition of the BlockFi lending platform. According to CNBC, FTX will pay $25 million for the deal, which is 99% below BlockFi’s last valuation. The move will wipe out BlockFi investors and write off the value of their losses. The discounted sale of BlockFi comes days after FTX provided a $250 million emergency line of credit to BlockFi. The Sam Bankman-Fried-led crypto exchange of FTX is inches from finalizing the highly speculated […]

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