• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
FTX

FTX CEO Sam Bankman-Fried Could Buy Out BlockFi For A Peanut $15 Million: Report

Christian Encila
by Christian Encila
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto exchange FTX is set to make the best buyout deal this year when it finalizes terms to acquire BlockFi, a crypto lending services platform that rose to prominence following the 2021 bull run.

A new report has it that the floor price for FTX.US’ acquisition agreement with BlockFi has been placed at $15 million, with the price tag increasing based on “performance.”

According to people familiar with the situation, FTX US may be granted approval to purchase BlockFi for the minimal price of $15 million.

This figure is lower than the $25 million disclosed by CNBC in its report months earlier, prompting BlockFi CEO Zac Prince to tweet, “I can affirm 100 percent that we are not being sold for $25M.”

Related Reading: Miley Cyrus Parties In The USA Patent Office With Double Metaverse Trademarks

FTX Set For A Steal With BlockFi Buyout

The sale price is a far cry from the $3 billion value BlockFi obtained during a March investment round wherein the company secured $350 million.

The initial purchase agreement was made public on July 1, when Prince acknowledged that the $240 million deal was contingent on “performance triggers” and that “crypto market volatility, including market developments connected to Celsius and 3AC, had a detrimental influence on BlockFi.”



Buying out BlockFi shouldn't even make a dent to SBF's cashbox. Image: Xconomy.

Sources added that FTX US would pay $25 million more if BlockFi wins an important regulatory clearance from the U.S. Securities and Exchange Commission by December 31 for BlockFi Yield, a product that would drum up interest on depositors’ cryptocurrency by lending it out at a higher interest rate.

Sam Bankman-Fried: World’s 79th Wealthiest Person

Moreover, if BlockFi’s client assets reach a minimum of $10 billion by October 2023, FTX US will pay an additional $100 million. FTX US has reportedly agreed to pay a sum equal to a quarter of BlockFi’s annual operating revenue, up to a maximum of $100 million.

Sam Bankman-Fried, the founder and CEO of FTX, is estimated by Forbes to be worth close to $20 billion, placing him at No. 79 on the list of the world’s richest people.

So, buying out BlockFi shouldn’t be a problem to the 30-year old billionaire. Fifteen million bucks is peanuts to him.

On June 27, FTX granted $250 in credit to BlockFi, whose operation has been severely hit by the ongoing bitcoin market crisis. BlockFi has since reduced its headcount by roughly 20%, joining a large number of other bitcoin companies in reducing employment.

Last year, following an investment round, BlockFi was estimated to be worth approximately $4.8 billion. Currently, the company is being purchased for a steep discount of $15 million compared to its previous price.

Related Reading: Crypto Exchange CEO Refuses To Step Down After $73 Million Loss

Crypto total market cap at $1 trillion on the daily chart | Source: TradingView.com

Featured image from Coincu News, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

starknet-panne-ethereum-redemarrage-apres-arret

Panne Starknet : le L2 d’Ethereum repart après 4h d’arrêt

7 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 2)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 2)

4 hours ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 2)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 2)

4 hours ago
Bitcoin Hyper Presale Nears $13.6M Raised as Whales Buy $30K Worth of $HYPER.

Bitcoin Hyper Presale Nears $13.6M Raised as Whales Buy $30K Worth of $HYPER

9 hours ago
Data Shows Bitcoin Could Dip Lower in September, But Bitcoin Hyper Remains a Solid Investment

Data Shows Bitcoin Could Dip Lower in September, But Bitcoin Hyper Remains a Solid Investment

9 hours ago
Crypto news

Crypto Influencers’ Insane Hidden Payouts Exposed By ZachXBT

10 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    49 minutes ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    1 hour ago
  • From Institutional to Individual Investors: How XRP and...

    2 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    2 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.