FTX agreed with the option for buying blockfi for up to USD 240 million

FTX has signed a contract with Blockfi that includes an option for the cryptocurrency exchange to buy the credit platform for up to $ 240 million, as companies have to struggle with the consequences of the crypto desolation.

ZAC Prince, CEO of Blockfi, said on Friday on Twitter that the agreement included a revolving credit facility of FTX US in the amount of $ 400 million and a purchase option at a "variable price". . . Based on performance triggers ”.

The deal increases the scope of the help for Blockfi from FTX, which Blockfi granted a loan of $ 250 million last week.

"We have not yet used this credit fifthity and continued all of our products and services normally," added Prince.

The deal represents a new step by Sam Bankman-Fried, Chief Executive from FTX, to support crypto companies that were weakened by an acute credit crisis that the cryptoma markets recorded, which compared analysts with a "clay moment" for the digital-asset industry.

The 30-year-old billionaire also awarded loans to the crypto broker Voyager in the amount of a total of $ 485 million in cash and Bitcoin. On Friday, the Voyager announced that from 2:00 p.m. they temporarily expose Eastern Time in the United States "the trade, deposits, payouts and loyalty premiums".

The CEO of Voyager, Stephen Ehrlich, said the step "gives us additional time to continue to explore strategic alternatives with various interested parties and at the same time get the value of the Voyager platform". The company added that it "actively pursues all available remedial measures" to recover more than $ 650 million that had borrowed the stricken hedge fund Arrows Capital that was liquidated this week.

On Thursday, CNBC reported that FTX should pay about $ 25 million for blockfi, a number that Prince played. According to Crunchbase data, the company was rated $ 4 billion after a financing round of $ 500 million last summer.

in his Twitter-Thread On Friday that a step of the credit platform Celsius in the past Month to prevent customers from lifting their assets to an "increase in customer withdrawals from the Blockfi platform, although the prices for crypto assets had decreased, although we were not exposed to them".

He also said that the company had suffered losses of $ 80 million due to its commitment to Three Arrows Capital.

Prince said he rejected various other rescue options that led to customer funds that had suffered a debt section, and added: "Basically, we basically believe in the protection of customer money."

At the beginning of this month,

Blockfi announced plans to dismiss a fifth of his workforce, as many crypto companies dismantle to survive the downturn on the cryptoma markets. The token prices have fallen by around 70 percent since its high last autumn.