FTX Buys BlockFi However Passes On Buying Celsius

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FTX Buys The Dip

In an enormous announcement, it was reported that FTX is closing a deal to purchase BlockFi for a serious low cost under their earlier estimated $5 billion valuation at peak. Though information initially talked about the deal was for under $25 million, it’s doubtless extra round $275 million together with the earlier FTX revolving line of credit score of $250 million. This comes proper after CEO Zac Prince introduced BlockFi confronted 10% of asset withdrawals in a “huge stress take a look at” simply final week.

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