BlockFi Files for Bankruptcy, Sues Sam Bankman-Fried for His Robinhood Shares
Weeks after suspending withdrawals, the crypto lending firm BlockFi filed for bankruptcy on November 28
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Dual Assets and High APRs
Over the last couple of months, the price of Bitcoin and other major cryptocurrencies has plummeted, leaving most people skeptical about the future of these decentralized assets. The inability of BTC, the premier crypto, to rise above the $25k mark for months now presents a massive problem for holders, crypto companies, potential traders, and even brands.
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FTX US Extends $400M Revolving Credit to BlockFi, Signs Option to Buy the Crypto Lender for $240M
FTX US has expanded on the previous deal made with a major cryptocurrency lending company BlockFi, upping the amount of the revolving credit from $250 million to $400 million. In addition, the new deal stipulates that FTX US can acquire BlockFi for a maximum amount of $240 million.
