BlockFi has signed a term sheet with crypto exchange FTX to access a $250 million revolving credit line to bolster its balance sheet, the crypto lending firm announced on Tuesday. BlockFi has been under financial pressures in recent weeks, laying off 20% of its employees earlier this month. It’s also in the process of raising a down round that would slash its valuation by one-fifth, The Block...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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