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According to CEO Zac Prince, BlockFi signed agreements with FTX US totaling $680 million — for a company that had a $5 billion valuation in June 2021. Go to Source Powered by WPeMatico
The cryptocurrency derivatives exchange could potentially buy out the troubled lender for pennies on the dollar. Go to Source Powered by WPeMatico
A leaked investor call from Morgan Creek Digital suggests BlockFi liquidated 3AC for $1 billion, while Celsius reportedly maintained a highly risky assets-to-equity ratio last year that may have caused its recent liquidity woes. Go to Source Powered by WPeMatico
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 … Read more
Despite a significant fine from Iowa’s regulator just two weeks earlier, BlockFi has scored itself a license in the state. Go to Source Powered by WPeMatico
Three days ago, Bitcoin.com News reported on the publicly listed company Voyager Digital after the crypto firm announced that it was owed $655 million worth of digital assets. Now according to a press release from Voyager, the company has secured funds from Alameda Ventures in order to get more access to liquidity. Voyager Borrows $500 … Read more
The reportedly ongoing talks followed BlockFi signing a term sheet with FTX to secure a $250 million revolving credit facility on Tuesday. Go to Source Powered by WPeMatico
The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains $250 Million Revolving Credit Line From FTX After Crypto Lending Firms Struggle … Read more
The IID ordered BlockFi to pay an administrative fine as well as cease and desist “from making any untrue statement of material facts regarding securities.” Go to Source Powered by WPeMatico
On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to … Read more
