FTX reportedly buying BlockFi for $25 million; deal sees equity investors “wiped out”

• Crypto speech FTX is reportedly closing successful connected a woody to bargain crypto lender BlockFi, CNBC reported, citing sources adjacent to the matter,
• The woody is reportedly acceptable astatine $25 million, a 99% driblet from BlockFi’s erstwhile valuation of $4.8 billion. Upon finalization, equity investors successful BlockFi could spot their investments “wiped out” and successful losses, according to a CNBC source.
• According to the sources, the woody is successful its last stages and is expected to beryllium signed by the extremity of the week.

The station FTX reportedly buying BlockFi for $25 million; woody sees equity investors “wiped out” appeared archetypal connected CryptoSlate.