FTX reportedly plans to acquire a stake in BlockFi
Summary
BlockFi is a cryptocurrency lending firm recently bailed out by Alameda Research after facing liquidity issues. A report by the Wall Street Journal said that discussions were already underway for FTX to acquire a stake in BlockFi. BlockFi’s CEO talked about this line of credit earlier this week, saying that it will come secondary to client funds. The Celsius Network suspended withdrawals around two weeks ago, and the company recently hired consultants to discuss bankruptcy. “We’d love to help you backstop crypto firms and provide liquidity because we care deeply about preventing market contagion.
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