Both major crypto exchange FTX and crypto loan provider Ledn have apparently became a member of the race for any stake within the troubled crypto loan provider BlockFi.
Bloomberg and CNBC reported concerning the ongoing negotiations between BlockFi and FTX. According to CNBC’s undisclosed sources, FTX is near to finalizing a phrase sheet to purchase BlockFi for USD 25m along with a deal is anticipated to become signed through the finish of the week. In March, the loan provider was worth USD 3bn.
However, Zac Prince, Chief executive officer of BlockFi, stated they “aren’t being offered for USD 25m.”
Meanwhile, per Bloomberg’s undisclosed sources, Ledn would lead a funding round as high as USD 400m and give a USD 50m equity contribution that will give Ledn a “significant part of the organization.” Other investors would come with ParaFi Capital, per the report.
Ledn Chief executive officer Adam Reeds confirmed to Bloomberg the firm “is presently evaluating numerous possibilities to broaden its leadership in digital asset lending and beyond” but declined to comment any more. Other involved companies declined to discuss the problem.
____
Find out more:
– BlockFi Safeguards USD 250M Line Of Credit from Bankman-Fried’s FTX
– SEC’s Peirce States Crypto’s Insufficient ‘Bailout Mechanism’ Is really a Strength FTX Chief executive officer like a ‘White Knight’
– More Crypto Meltdowns Might Be Seen This Summer time, however the Worst Is Behind Us – Pantera’s Morehead
– Celsius’ Positions are actually Healthier, Three Arrows Capital Would be a ‘Victim of Contagion’ – Nansen
