What is BlockFi's $400m revolving credit facility?

Alongside the potential for an acquisition, with the deal FTX US is giving BlockFi a $400M revolving credit facility to shore up its finances in the midst of market uncertainty. Yesterday we signed definitive agreements, subject to shareholder approval, with FTX US for: 1.

How much is BlockFi worth?

The transformation of value in the digital age. The agreement reached with the FTX unit has a total value of "up to $680 million," according to BlockFi's CEO. BlockFi and FTX US have reached a deal that will provide the embattled crypto company with a $400 million credit facility.

What is BlockFi and how does it work?

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. It’s a dramatic turn for the centralized exchange that allowed users to buy, sell and earn cryptocurrencies.

Will FTX US buy BlockFi?

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 and will, according to BlockFi CEO Zac Prince, "protect client funds."