BlockFi Inks $250M Credit Deal With FTX To Ease Liquidity Fears
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The proceeds of the credit facility are intended to be contractually subordinate to all client balances, according to BlockFi CEO Zac Prince FTX-associated Alameda Research previously provided $500…
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FTX had earlier floated a $250 million line of credit to BlockFi in a bid to stabilize its bleeding cash flows The crypto lender has been one of a number of recent operators caught off guard by slumping crypto markets Cryptocurrency exchange FTX has accelerated its shopping spree with a…
Non-bank credit institution BlockFi lost $1.2 billion due to the bankruptcy of FTX and Alameda Research. Money was invested in companies before the collapse and remained blocked after filing for bankruptcy. This information was accidentally released by M3 Partners, which is BlockFi’s bankruptcy advisor, CNBC reported. As of Jan. 14,…
The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to... [[ This is a content summary only. Visit my website for full links, other content, and…