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FTX Agrees to Acquire BlockFi


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Alex Dovbnya

FTX has agreed to acquire BlockFi for up to $240 million

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Cryptocurrency giant FTX US has agreed to acquire embattled lender BlockFi for up to $240 million, according to Axios.

This is much higher than the rumored figure of $25 million that was reported by CNBC on Thursday.

Yet, it is worth mentioning that the $240 million deal is at the high end of the price range, which means that the final price of the acquisition could decline significantly.       

The deal also includes a $400M revolving credit facility. 

In a Twitter thread, CEO Zac Prince says that crypto market volatility led to the deal with FTX US. Its price will depend on “performance triggers.”  


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