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BlockFi Secures USD 250M Credit Line from Bankman-Fried's FTX
Major crypto lender BlockFi said it secured a USD 250m loan from the FTX exchange in an attempt to bolster its balance sheet.
The revolving credit facility, which is a type of credit, "are intended to be contractually subordinate to all client balances across all account types (BIA, BPY & loan collateral) and will be used as needed," Zac Prince, CEO of BlockFi, said....
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