coinnounce.com
Mr. Sam Bankman-Fried, the cryptocurrency billionaire who owns FTX (FTX), has signed an agreement to assist BlockFi and Voyager Digital as two crypto companies facing l problems after the central bank did not help.
Today @BlockFi signed a term sheet with @FTX_Official to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength.
— Zac Prince (@BlockFiZac) June 21, 2022
Bankman-Fried agreed on Tuesday (June 21) to provide $250 million in aid to Blackfire through a loan deal and assisted Voyager Digital in a $500 million loan. He said the financing would help the two companies continue their business.
1) Today we’re injecting $250m into BlockFi and partnering with them so they can navigate the market from a position of strength.https://t.co/nocsdi0GLF
— SBF (@SBF_FTX) June 21, 2022
Mr. Bankman fried said, ” We are doing our part to protect the digital asset ecosystem and our customers.” CNBC news agency reported that such assistance had taken place.
After blogging revealed earlier this month that the company had to lay off as many as 20% of its employees, the value of the crypto slumped considerably in the past few weeks. As a result, many large crypto companies face financial difficulties.