Troubled crypto lender BlockFi Inc., already in talks with industry giant FTX, has been approached about a deal with another party that includes rival Ledn, according to three people with knowledge of the matter.
FTX, the crypto exchange founded by Sam Bankman-Fried, is negotiating a potential acquisition of BlockFi, Bloomberg reported earlier. But the price FTX is seeking -- CNBC reported it was roughly $25 million -- is a deep discount from BlockFi’s $3 billion valuation in March 2021. Unlike the bid from FTX, Ledn’s proposal involves fresh funding rather than a full acquisition and has been submitted to a BlockFi board member, according to one of the people, all of whom declined to be identified because the talks are confidential.
Ledn would lead a funding round of up to $400 million and provide a $50 million equity contribution that would give Ledn a significant portion of the company, two of the people said. Other investors would include ParaFi Capital, they said. A...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...