Decrypt’s Art, Fashion, and Entertainment Hub.
Yesterday we signed definitive agreements, subject to shareholder approval, with FTX US for:
1. A $400M revolving credit facility which is subordinate to all client funds, and
2. An option to acquire BlockFi at a variable price of up to $240M based on performance triggers.
— Zac Prince (@BlockFiZac) July 1, 2022
BlockFi has a strong balance sheet and is well positioned for long-term stability as we continue to operate as business as usual. This credit facility agreement with FTX provides BlockFi with access to capital that further bolsters our balance sheet and platform strength.
— BlockFi (@BlockFi) June 21, 2022