BlockFi CEO refuted $25 million company sale to FTX

Zac Prince urged to verify the information and believe only the comments of the platform itself

01.07.2022 - 15:30

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1 min

What’s new? The head of the BlockFi lending platform Zac Prince denied that his company was being bought by the cryptocurrency exchange FTX. On June 30, CNBC reported that BlockFi intended to make a $25 million deal with FTX. That's 99 percent below the platform's $4,8 billion valuation in its last funding round in 2021.

Lots of market rumors out there - I can 100% confirm that we aren’t being sold for $25M. I encourage everyone to trust only details that you hear directly from @BlockFi. We will share more w you as soon as we can.— Zac Prince (@BlockFiZac) June 30, 2022

What else did the head of BlockFi say? After the article was released, Prince denied all of the published information. On Twitter, he wrote:

“I can 100% confirm that we aren’t being sold for $25M. I encourage everyone to trust only details that you hear directly from BlockFi.”

Information about the talks between FTX and BlockFi surfaced last week, and the exchange also previously gave the platform a $250 million loan. BlockFi received another offer from crypto platform Ledn on July 1. Ledn intends to lead a funding round of up to $400 million, as well as a $50 million equity contribution to BlockFi.

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