View full page at cryptocraft.com

 

Crypto Billionaire Sam Bankman-Fried Doles Out Credit Lines to Stem Contagion

From bnnbloomberg.ca

Sam Bankman-Fried, the crypto billionaire who co-founded digital-asset exchange FTX Trading Ltd., is providing credit lines to try to stem contagions for his beleaguered industry. Crypto lending platform BlockFi Inc., which had been raising funds at a reduced valuation, said on Tuesday that it secured a $250 million revolving line of credit from FTX. Last week, crypto exchange Voyager Digital Ltd., whose shares are down 90% this year on Toronto Stock Exchange, got a $200 million credit line -- a mix of cash and USDC stablecoins -- as well as a separate, 15,000-Bitcoin revolving facility from Alameda Research, ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis