- Crypto exchange FTX is reportedly closing in on a deal to buy crypto lender BlockFi, CNBC reported, citing sources close to the matter,
- The deal is reportedly set at $25 million, a 99% drop from BlockFi’s previous valuation of $4.8 billion. Upon finalization, equity investors in BlockFi could see their investments “wiped out” and in losses, according to a CNBC source.
- According to the sources, the deal is in its final stages and is expected to be signed by the end of the week.
More details to follow…
The post FTX reportedly buying BlockFi for $25 million; deal sees equity investors “wiped out” appeared first on CryptoSlate.
