BlockFi Receives $250M Line of Credit from FTX

FTX Announces $250M BlockFi Support
  • Increased liquidity pressure threatens lending platforms and exchanges
  • Against this background, FTX announced support for BlockFi
  • The exchange received a $250 million credit line
  • These actions are designed to reassure customers and strengthen the position of the platform.

Yesterday, June 21, FTX CEO Sam Bankman-Fried declaredthat his company opened a $250 million line of credit to BlockFi. This will reduce liquidity pressure on the site and reassure users.

The CEO was quick to reassure the audience that BlockFi has no payout issues. According to him, the exchange is distinguished by effective risk management, which made it possible to eliminate the influence of “problem partners”, including Three Arrows Capital, in advance.

“Sometimes good leadership means tough and decisive action. This is exactly what the top management of BlockFi did, removing the ballast before it became a problem ”- stressed Bankman-Fried.

He also stated that the exchange is completely stable, and customer funds are secured from a reliable source. At the end, the CEO noted that FTX is serious about its commitment to maintaining the stability of the digital asset ecosystem.

In recent weeks, two large landing platforms have suspended payouts at once. Babel Finance and Celsius said they were struggling to keep up with increased liquidity.

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