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FTX Buys BlockFi But Passes On Acquiring Celsius


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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

FTX Buys The Dip

In a massive announcement, it was reported that FTX is closing a deal to buy BlockFi for a major discount below their previous estimated $5 billion valuation at peak. Although news initially mentioned the deal was for only $25 million, it’s likely more around $275 million including the previous FTX revolving line of credit of $250 million. This comes right after CEO Zac Prince announced BlockFi faced 10% of asset withdrawals in a “massive stress test” just last week.





Read More: FTX Buys BlockFi But Passes On Acquiring Celsius

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