What is Sam Bankman-fried's FTX deal with BlockFi?

Sam Bankman-Fried’s cryptocurrency exchange FTX has inked a deal with troubled crypto lender BlockFi with the option to acquire for up to $240 million. The “definitive agreement” provides BlockFi with a $400 million revolving credit facility, with the total value of deal estimated to reach up to $680 million – subject to shareholder approval.

Will FTX buy BlockFi?

"An option to acquire BlockFi at a variable price of up to $240M based on performance triggers" is on the table, he said. The deal comes after rumors that FTX would acquire BlockFi for as little as $25 million. On Thursday, Prince took to Twitter to deny those rumors.

How much is BlockFi's FTX deal worth?

The final purchase value will depend on BlockFi’s performance and other factors. CEO Zac Prince claims that the deal will ensure client funds are protected. Sam Bankman-Fried’s cryptocurrency exchange FTX has inked a deal with troubled crypto lender BlockFi with the option to acquire for up to $240 million.