BlockFi secures $250 million credit facility from FTX

Beleaguered crypto lender BlockFi announced it has secured a $250 million revolving credit facility from crypto exchange giant FTX. 

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“Today BlockFi signed a term sheet with FTX to secure a $250m revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength,” CEO Zach Prince tweeted on Tuesday. 

This is a breaking story and will be updated. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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