FTX closes deal with an option to acquire crypto lender BlockFi

Financial TimesNovember 08, 2022

According to BlockFi CEO Zac Prince the option is priced at up to $240Mn and the deal includes a $400Mn credit facility. Previous valuations of the company reached $4Bn last summer, before the downturn that hit crypto markets and left FTX in trouble. CNBC reported a valuation of just $50M but sources in the FT are saying the deal with FTX values BlockFi at around $150M.