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FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale | CNBCwww.cnbc.com/2022/06/30/ftx-closes-in-on-a-deal-to-buy-embattled-crypto-lender-blockfi-for-25-million-in-a-fire-sale.html
242 sats \ 7 comments \ @cryptocoin 30 Jun 2022 bitcoin
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75 sats \ 1 reply \ @kr 30 Jun 2022
Not true according to BlockFi CEO
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15 sats \ 0 replies \ @cryptocoin OP 30 Jun 2022
Haha, Max Keiser's response:
[Was $25M] Too high?
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30 sats \ 0 replies \ @TheBTCManual 1 Jul 2022
SBF is picking up the pieces and building a shitcoin empire, I saw he walked away from Celsius, I wonder if Voyager and the other CEFI lenders could be next
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20 sats \ 0 replies \ @zuspotirko 1 Jul 2022
Wasn't FTX in talks with buying Robinhood? What's going on with this company, I thought they were a small player?
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20 sats \ 0 replies \ @ideasourcing 30 Jun 2022
this SBF fella used insider info earlier right?
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20 sats \ 0 replies \ @sp 30 Jun 2022 freebie
** no taxpayer money got hurt in the process **
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0 sats \ 0 replies \ @cryptocoin OP 30 Jun 2022
FTX will pay roughly $25 million — 99% below BlockFi’s last private valuation. Jersey City, New Jersey-based BlockFi was last valued at $4.8 billion, according to PitchBook.
The fire sale comes a week after FTX provided a $250 million emergency line of credit to BlockFi. FTX CEO Sam Bankman-Fried said at the time that the financing would help BlockFi “navigate the market from a position of strength.”
Billionaire Bankman-Fried has been seen as a lender of last resort in the space. In addition to BlockFi, Bankman-Fried’s company Alameda Research provided a $500 million loan to Voyager.
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