BlockFi

This Week on Crypto Twitter: BlockFi and 3AC Try to Clear the Air, CZ Jumps the Gun - Decrypt

This Week on Crypto Twitter: BlockFi and 3AC Try to Clear the Air, CZ Jumps the Gun – Decrypt

Illustration by Mitchell Preffer for Decrypt As markets began leveling off from a freefall, Crypto Twitter spent a bit more time discussing the latest bailouts. At the beginning of the month, Voyager filed for Chapter 11 bankruptcy shortly after revealing in June that it had a $661 million exposure to Three Arrows Capital (3AC), a …

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Crypto exchange FTX in talks to acquire stake in BlockFi

Crypto exchange FTX in talks to acquire stake in BlockFi

 Coin Stories podcast host Natalie Brunell provides insight on investing in Bitcoin cryptocurrency on ‘Making Money with Charles Payne.’ Crypto billionaire Sam Bankman -Fried has become a lender of last resort to his beleaguered industry. He may end up owning large chunks of it as well. Mr. Bankman-Fried’s crypto exchange, FTX, is in talks to …

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Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to …

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Crypto exchange FTX bails out lending platform BlockFi

Crypto exchange FTX bails out lending platform BlockFi

Sam Bankman-Fried has bolstered the stumbling $900bn crypto industry with his second bailout of a struggling digital assets firm in as many weeks. The 30-year-old chief executive of crypto trading platform FTX has extended a $250mn loan to BlockFi, he announced on Tuesday. Just last week, he also helped crypto broker Voyager Digital to pull …

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Crypto lender BlockFi struggles to raise cash despite discount: source

Crypto lender BlockFi struggles to raise cash despite discount: source

Crypto lender BlockFi is struggling to raise cash despite offering to take a steep discount on its valuation, raising the risk that it could be forced into a financial restructuring, The Post has learned. The Jersey City, NJ based startup, which last fall raised $400 million in a funding round that valued the company at …

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Coinbase to Lay Off 18% of Staff Amid Crypto Meltdown

Coinbase to Lay Off 18% of Staff Amid Crypto Meltdown

Further waves of reckoning swept through the cryptocurrency industry Tuesday, with exchange company Coinbase Global Inc. saying it would cut almost a fifth of its staff and crypto lender Celsius Network LLC hiring a law firm to examine restructuring options. Coinbase, one of the signal growth companies of the crypto boom, said it was slashing …

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BlockFi and Crypto.com lay off hundreds of staff as coins slump

BlockFi and Crypto.com lay off hundreds of staff as coins slump

BlockFi, a platform for trading and lending cryptocurrency, announced via a blog post on Monday that it’s laying off 20 percent of its 850 employees — around 170 to 200 people. CEO Zac Prince said in a Twitter thread that the layoffs can be traced to a “dramatic shift in macroeconomic conditions” and BlockFi’s push …

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