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