ICYMI: BlockFi secures $250 million credit facility from FTX
The crypto lender says the deal ‘bolsters our balance sheet and platform strength.’
"Today BlockFi signed a term sheet with FTX to secure a $250m revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength," CEO Zac PrinceCrypto lenders, which provide high-yield accounts for crypto investors, have come under renewed scrutiny this month as Celsiusfor its customers on June 12. The next day, BlockFi announced it would cut about 20% of staff in an effort to trim costs.
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