FTX’s CEO Sam Bankman-Fried is in talks to acquire a stake in crypto lending firm BlockFi. CryptoSlate recently reported the possibility of a deal following a $250 million line of credit issued to BlockFi from FTX. A Spokesperson from BlockFi told CryptoSlate,

“BlockFi does not comment on market rumors. We are still negotiating the terms of the deal and cannot share more information at this time. We anticipate sharing more on the terms of the deal with the public at a later date.”

On June 23, CryptSlate reported that,

“BlockFi is currently a privately held company and thus only has to report shareholders above 10% in SEC documents. Hence, it is unknown if SBF was given equity in return for this arrangement”

SBF took additional shares in Voyager following a $200 million and 15K Bitcoin loan to the company leaving him with an 11% stake in the company.

The Wall Street Journal confirmed that FTX is currently negotiating with BlockFi and the two parties have yet to reach an equity agreement on June 24.

Updated June 25 2pm BST: Added commentary from BlockFi

Journalist at CryptoSlate

Liam first got into crypto by mining Dogecoin after hours at his video production company in 2013. Since then he has become a ‘blockchain maximalist’ and subsequently, a web3 strategic consultant.

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