Where FTX’s reported offer is for a full acquisition, Ledn’s involves a fresh funding round, according to the report, which cited people with knowledge of the matter. This funding would supposedly be for up to $400 million, and include $50 million in equity, giving Ledn a sizable ownership stake in BlockFi. Source
BlockFi, Celsius, Nexo, and more: tough times can lead to difficult measures, and this year’s bear market is showing no exception to some of these players. Look no further than the current state of affairs for centralized finance (CeFi) platforms, who have been facing substantial headwinds with no end in sight. Now, after days of rumors and reported exploratory deals, reports have emerged that powerhouse crypto exchange FTX is putting together the final ties around an acquisition deal of BlockFi at just a $25M valuation. The news comes after reports…
En respuesta a las publicaciones, el CEO de BlockFi Zac Prince publicó un tweet diciendo “puedo confirmar en un 100% que no se venderá por $25M”. Y agregó: “Aliento a todos a confiar solamente los detalles que escuchen directamente de @BlockFi. Compartiremos más con ustedes en cuanto podamos”. Source
The beleaguered crypto lender was reportedly close to finalizing a down round valuing it at $1 billion earlier this month. Source
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In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things and protect customers.” Bankman-Fried’s FTX and Alameda Research Provide Credit Lines to Specific Crypto Firms The crypto economy has been hit hard by the current bear market and Terra LUNA and UST fallout that took…
Cryptocurrency derivatives exchange FTX is reportedly eyeing a takeover of Robinhood Markets, the popular trading app that introduced millions of traders to Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE). Citing people familiar with the matter, Bloomberg reported Monday that FTX is holding internal deliberations about whether to acquire Robinhood. Although no decision has been made to pursue a takeover, FTX is said to be taking the matter seriously. Bloomberg’s contact clarified that FTX has yet to approach Robinhood with a buyout proposal and that it could still decide against pursuing…
Plans are still in the preliminary stages, according to a report from Bloomberg. Source
The dedicated FTX token (FTT) DAO has raised $7 million from its community members as plans to invest in crypto education and DeFi. Source
The Bahamas-based digital asset exchange FTX is reportedly interested in acquiring a stake in crypto lender BlockFi. The Wall Street Journal reports discussions between the firms are ongoing and that no equity agreement has been reached yet, according to anonymous sources. Earlier this week, FTX agreed to provide BlockFi with a $250 million line of credit. Zac Prince, BlockFi’s chief executive, said the money is “intended to be contractually subordinated to all client balances across all account types (BlockFi interest account, BlockFi personal yield and loan collateral) and will be…