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 […]
