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crypto

BlockFi Receives $250 Million Bailout From FTX

By
Aidan Ryan
· · Source: The Information

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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