FTX Buys BlockFi But Passes On Acquiring Celsius


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FTX Buys The Dip

In a massive announcement, it was reported that FTX is closing a deal to buy BlockFi for a major discount below their previous estimated $5 billion valuation at peak. Although news initially mentioned the deal was for only $25 million, it’s likely more around $275 million including the previous FTX revolving line of credit of $250 million. This comes right after CEO Zac Prince announced BlockFi faced 10% of asset withdrawals in a “massive stress test” just last week.

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