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The underneath is an excerpt from a contemporary version of Bitcoin Mag Professional, Bitcoin Mag’s top class markets e-newsletter. To be a number of the first to obtain those insights and different on-chain bitcoin marketplace research instantly on your inbox, subscribe now.

FTX Buys The Dip

In an enormous announcement, it was once reported that FTX is remaining a deal to shop for BlockFi for a big cut price underneath their earlier estimated $5 billion valuation at top. Even if information to begin with discussed the deal was once for simplest $25 million, it’s most likely extra round $275 million together with the former FTX revolving line of credit score of $250 million. This comes proper after CEO Zac Prince introduced BlockFi confronted 10% of asset withdrawals in a “large pressure check” simply ultimate week.


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