BlockFi Receives $250M Credit Facility From FTX

Though it is now in the position of backstopping a broader market crash, FTX is reportedly one of the firms that liquidated Celsius – the troubled decentralized crypto lending platform that was forced to halt all user withdraws last week. Celsius, one of BlockFi’s competitors, reportedly ran out of funds to repay depositors due to a series of risky decentralized finance bets.

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