BlockFi has received a $250 million revolving credit facility from FTX, BlockFi CEO Zac Prince said in a tweet on Tuesday.
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“The proceeds of the credit facility are intended to be contractually subordinate to all client balances across all account types (BIA, BPY & loan collateral) and will be used as needed,” Prince said in a tweet.
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The agreement comes during a downturn for crypto markets and the fall of stablecoin UST and decentralised finance protocol Celsius.
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