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
341
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
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024