FTX Plans to Acquire Stake in Crypto Lender BlockFi: Report

FTX, the cryptocurrency exchange led by billionaire Sam Bankman-Fried, has entered negotiations to acquire a stake in the beleaguered crypto lending firm BlockFi, according to a report today in the Wall Street Journal, citing unnamed sources.

The acquisition talks come on the heels of BlockFi’s announcement earlier this week that it secured a $250 million line of credit from FTX, which the crypto industry largely recognized as a “bailout.”

This story is developing and will be updated.

Want to be a crypto expert? Get the best of Decrypt straight to your inbox.

Get the biggest crypto news stories + weekly roundups and more!