Crypto exchange FTX acquiring stake in BlockFi, claims report

Leading crypto change is reportedly acquiring a stake in the beleaguered crypto lending firm BlockFi, as the crypto industry faces meltdown.
According to Wall Street Journal, FTX is currently in discussions with BlockFi regarding the stake in the firm.
The acquisition talks came as BlockFi secured a $250 million line of credit from FTX, which the crypto industry largely recognised as a “bailout.”
“BlockFi does not comment on market rumours. We are still negotiating the terms of the deal and cannot share more information at this time. We anticipate sharing more on the terms of the deal with the public at a later date,” a BlockFi spokesperson told Cointelegraph.