Crypto Lender BlockFi Gets $250 Million Credit Line From FTX

One of the biggest crypto lenders, BlockFi Inc., said it signed an agreement with digital-asset trading giant FTX to provide a $250 million revolving credit facility as concern increases across the sector about liquidity in the wake of the recent collapse in token prices.

Zac Prince, CEO of BlockFi, said on Twitter that his firm has signed a term sheet with FTX to provide BlockFi with access to capital “that further bolsters” the crypto lender’s balance sheet.

“Throughout the market volatility of the last several weeks, I’m incredibly proud of how our team, platform and risk management protocols have ...