FTX US gains ‘option to acquire’ BlockFi for up to $240 million
BlockFi and FTX US have reached a deal that will provide the embattled crypto company with a $400 million credit facility.
The deal also gives FTX US, a unit of Sam Bankman-Fried’s FTX crypto exchange, the right to acquire BlockFi. The parties agreed to the “definitive agreement” one day prior, however, it is still subject to shareholder approval. The deal has a total value of up to $680 million.