Cryptocurrency exchange FTX US has agreed to buy BlockFi.
According to Axios, BlockFi’s sale could be as high as $240 million. That’s a much higher bid than the $25 million claimed by CNBC.
Still, it’s worth remembering that the $240 million deal is the high end of the price range. This means that the final price could be much lower.
The deal also includes a $400 million loan.
BlockFi CEO Zac Prince said that the volatility in the crypto market has caused their deal with FTX US.
(Long thread!)
Excited to share an update on our previously announced term sheet with @FTX_US – and how we've broadened the scope of the initial deal for the benefit of all key @BlockFi stakeholders.
— Zac Prince (@BlockFiZac) July 1, 2022
Prince also stressed that all of the company’s products will continue to operate normally.
