2 years ago
Summary:
- BlockFi CEO has requested crypto journalists and marketplace commentators, not to notation the institution alongside Voyager Digital and Celsius Network.
- He states that BlockFi has remained financially functional portion Voyager and Celsius person not.
BlockFi’s CEO, Zac Prince, has requested crypto journalists and marketplace commentators, not to notation the institution alongside Voyager Digital and Celsius Network. According to Mr. Prince, the second 2 crypto companies person unopen down, whereas BlockFi continues to beryllium afloat functional and has breathtaking ‘stuff’ successful the pipeline.
Mr. Prince shared his petition to journalists and crypto marketplace commentators done a two-part Twitter thread that tin beryllium seen below.
Source: @BlockFiZac connected Twitter.BlockFi’s CEO Comments Gather Mixed Reactions from Crypto Twitter.
The crypto-twitter assemblage has since reacted to Mr. Prince’s tweet, with immoderate assemblage members agreeing with his comments and others not being excessively pleased with them. Below is simply a illustration of immoderate of the responses.
The question is – would you inactive not look the aforesaid if you didn’t person to beg the marketplace for wealth to get bailed out? I spot nary difference, simply immoderate got saved, others didn’t. Risk management, oregon deficiency thereof, is the communal denominator. – by @0x_Anthem
Isn’t the quality fundamentally 1 got a bail retired portion the different 2 didn’t? – by @EatCookCryptos
This is specified a atrocious take. Instead of worrying astir your reputation, bash thing to assistance the broader assemblage successful distress. – by @giltzer14
A Recap of BlockFi’s Woe Due to the Crypto Winter.
In mid-June, BlockFi and FTX agreed on a $250 cardinal recognition installation to assistance the institution solidify its equilibrium expanse amidst the harsh crypto wintertime conditions. The funds would, successful turn, beryllium utilized to support lawsuit funds and assets should determination beryllium a request to usage them. The crypto wintertime had earlier forced BlockFi into laying disconnected 20% of its workforce owed to the shifting planetary macroeconomic climate.
In precocious June, it was revealed that FTX was readying to get a involvement astatine BlockFi. On the archetypal of this month, BlockFi’s CEO announced that the institution had signed definitive agreements with FTX for a $400 cardinal revolving recognition installation and an enactment to get BlockFi astatine a adaptable terms of up to $240 cardinal based connected show triggers.
English (US) 