FTX US has inked a term sheet that allows for a takeover of the ailing crypto lender. BlockFi would take care of its customers before it had to make good on its debt to FTX. FTX US, the U.S. section of the crypto exchange run by billionaire Sam Bankman-Fried, has
BlockFi CEO Zac Prince, 100% confirms that the firm is being sold to FTX. This year, Bankman-Fried paid $648.3 million for a 7.6% stake in Robinhood. BlockFi, a leading cryptocurrency lending platform CEO Zac Prince disputes the reports that the firm has sold for $25 million, BlockFi previous value was
BlockFi received a $250 million line of credit from FTX. Massive leverage is the root of many problems afflicting the crypto community. The current bear market and the aftermath of Terra LUNA and UST last month have significantly impacted the crypto industry. The demise of Terra set off a chain
Iowa residents can trade stablecoins in the state with help of BlockFi. BlockFi Reduced its workforce by 20% this month. On June 28, BlockFi a crypto lending platform based in Jersey announced that it has received a money service license in Iowa, just two weeks after being fined by Iowa
Sam Bankman-Fried disclosed a 7.6% stake in Robinhood. Following the report, Robinhood surged over 14%. The cryptocurrency exchange FTX said to consider acquiring the digital trading platform Robinhood, a prominent Magazine reported on Monday. Robinhood has not yet received a formal notice from FTX of any such acquisition and there
The total sum being discussed has not been made public yet. The company sold its stake in 3AC and reduced 20% of its personnel this month. Wall Street Journal reports that well-known cryptocurrency exchange FTX is planning to buy a stake in lending company BlockFi. It seems that talks between
FTX partnered up with BlockFi to offer a new credit line FTX offers trading opportunities for over 100 cryptocurrency trading pairs. FTX a Bahamas-based centralized cryptocurrency exchange added trading pairs for Avalanche (AVAX), Tron (TRX), and Polygon (MATIC). The whole cryptocurrency market is facing a downtrend, it lost more than
BlockFi receives a $250 million umbrella loan as per CEO Prince. BlockFi revealed early last week that it was cutting 20% of its personnel. BlockFi and FTX have teamed together to provide a new credit line. Cryptocurrency exchange FTX has granted BlockFi a $250 million credit facility, according to CEO
The purchase is scheduled to conclude in the third quarter of 2022. On June 6, SBF indicated FTX would not reduce or freeze its employment. A deal has been reached to acquire Bitvo, a Canadian crypto platform, by the cryptocurrency derivatives exchange FTX. Announcing the acquisition of Bitvo on Friday,
3AC in liquidation of $400 million. Transfers $90 million worth FTT on KuCoin. Refrains FTX from tracking its transactions. The Three Arrows Capital (3AC) has been facing quite tough times recently. Indeed, the entire crypto-based firms and institutions are undergoing the same pain. The Dubai-based crypto funding firm is under
