BlockFi signs term sheet with FTX for $250 million revolver

Chicago, June 21 – BlockFi International Ltd. signed a term sheet for $250 million with FTX, according to a press release.

Proceeds from the revolving line of credit will be used to further bolster the borrower’s balance sheet.

Definitive documentation is expected to be completed in the coming days.

The credit facility will be contractually subordinated to all client balances across all account types.

Based in Jersey City, N.J., BlockFi is a crypto financial services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.