avatar

FTX US Gains Option to Acquire BlockFi at a Variable Price of Up to $240 Million

BlockFi CEO Zac Prince tweeted that his company has signed an agreement with FTX.US (subject to shareholder approval) for FTX.US to provide BlockFi with a $400 million revolving credit facility and the right for FTX to acquire BlockFi for a variable price of up to $240 million based on performance triggers. With other potential consideration, the total value of the agreement is up to $680 million, Zac Prince said. BlockFi has not yet drawn on this credit facility and continues to operate all products and services as normal.
Source

FTX

Exchanges

Event

Related News
Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation
Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group
MEXC Extends DEX+ Platform to Binance Smart Chain Users MEXC Extends DEX+ Platform to Binance Smart Chain Users
MEXC Partners With Hacken to Increase Security Standards MEXC Partners With Hacken to Increase Security Standards
Latest News More More
3 Days Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
July 4 Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
June 30 Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block

About TokenInsight

Services

Products

Support

Google Play
Google Play
Google Play
2018 – 2023 © TokenInsight Ltd. All rights reserved
Disclaimer Terms of Service Privacy Policy
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open