The $25m expected price tag is 99% below BlockFi’s last private valuation, having last been valued at $4.8b, according to PitchBook. The fire sale comes a week after FTX provided a $250m emergency line of credit to BlockFi. FTX CEO Sam Bankman-Fried said at the time that the financing would help BlockFi “navigate the market from a position of strength.”
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FTX closes in on a deal to buy embattled crypto lender BlockFi for $25m in a fire sale
“There was more than one deal on the table,” a source told CNBC.
