Yugocean
Valued Contributor
Crypto trading platform BlockFi has recently been fined nearly $100 million in the state of Iowa, and is also trying to tide over the falling market. Therefore, the company is desparately in need of financial support, which it got from SBF.
SBF has started investing in revolving credit facility in the bear market, previously his firm Alameda Research lent $500 million in UDSC and Bitcoin to crypto broker Voyager Digital, and now another firm FTX has lent $250 million to BlockFi.
Revolving credit is a type of loan that enables the borrower to take out the loan at the time of need, repay it, withdraw again, then repay it again, within a time frame. Zac Prince, the CEO of BlockFi, has announced about that deal with SBF's crypto exchange firm FTX .
Although the intention of SBF is not beyond doubt, but in the present situations, in a way, to be helpful. This loan is very important for BlockFi to save the company in this hour of crisis.
SBF has started investing in revolving credit facility in the bear market, previously his firm Alameda Research lent $500 million in UDSC and Bitcoin to crypto broker Voyager Digital, and now another firm FTX has lent $250 million to BlockFi.
Revolving credit is a type of loan that enables the borrower to take out the loan at the time of need, repay it, withdraw again, then repay it again, within a time frame. Zac Prince, the CEO of BlockFi, has announced about that deal with SBF's crypto exchange firm FTX .
Although the intention of SBF is not beyond doubt, but in the present situations, in a way, to be helpful. This loan is very important for BlockFi to save the company in this hour of crisis.
