Crypto platform Ledn started talks to buy stake in BlockFi
The proposal involves a new round of funding in the amount of up to $400 million
01.07.2022 - 12:40
449
1 min
0
What’s new? Ledn, a crypto platform, has begun talks to buy a stake in BlockFi. The proposal would see Ledn lead a new funding round of up to $400 million, as well as contributing $50 million to BlockFi’s equity, Bloomberg reports, citing anonymous sources. ParaFi Capital, a venture capital firm, will also reportedly participate in the round.
What do the companies’ representatives say? Ledn and ParaFi declined to comment on the deal talks. However, Ledn CEO Adam Reeds noted that the company is currently looking for opportunities to expand.
Ledn is a Canadian-based digital asset lending and borrowing platform. It offers yields of up to 7,5% per annum for placing BTC and USDC stablecoins. The platform also provides bitcoin-backed loans with the B2X service. One of the company’s investors is Coinbase Ventures, which also invested in BlockFi.
The BlockFi platform provides lending and borrowing services, as well as an option to place deposits with interest accrual. On June 24, it became known that cryptocurrency exchange FTX was in talks to buy a stake in BlockFi. In addition, on June 21, FTX provided a $250 million loan to the platform.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024