Home Latest News FTX Provides $250M Credit to BlockFi: Breaking News

FTX Provides $250M Credit to BlockFi: Breaking News

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FTX has decided to provide a $250 million credit facility to BlockFi, as confirmed by BlockFi CEO Zac Prince on Twitter. The company has issued a press release, stating that this would strengthen the platform. The proceeds from this credit facility will be used for BIA, BPY, and as loan collaterals, as per users’ needs. 

Further documentation on this will be released soon, by both these parties, the CEO further stated.  

The companies signed an agreement at a time when the crypto market is going through a rough patch. This is not the first time that FTX has decided to assist other crypto organizations, including Celsius, BlockFi’s one of the competitors.

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