FTX on the verge of purchasing BlockFi in $25M fire sale: Report By Cointelegraph

FTX on the verge of purchasing BlockFi in $25M fire sale: Report

Cryptocurrency Jun 30, 2022 04:40PM ET

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FTX on the verge of purchasing BlockFi in $25M fire sale: Report

Cryptocurrency exchange FTX is close to purchasing digital asset lender BlockFi's remaining assets for $25 million, according to CNBC.

According to sources close to the matter, BlockFi's equity investors were wiped out and are now writing their positions off at a loss. In addition, the FTX deal could take multiple months to close, opening up the possibility that the price tag could shift over that period. In June 2021, BlockFi had a reported valuation of $5 billion.

Continue Reading on Coin Telegraph

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FTX on the verge of purchasing BlockFi in $25M fire sale: Report

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