BlockFi Receives $250M Credit Facility From FTX

Though it is now in the position of backstopping a broader market crash, FTX is reportedly one of the firms that liquidated Celsius — the troubled crypto lending platform that was forced to halt all user withdraws last week. Celsius, one of BlockFi’s competitors, reportedly ran out of funds to repay depositors due to a series of risky decentralized finance bets.

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