FTX Closes in on Deal to Buy BlockFi for $25 Million, CNBC Says

FTX is closing in on a deal to buy BlockFi, CNBC reports, citing sources.

• Term sheet is almost complete and expected to be signed by the end of the week, the report says, citing one source
• FTX to pay roughly $25 million, report adds price could shift
• A FTX spokesperson declined to comment to CNBC; BlockFi did not immediately respond to a request for comment from CNBC
• NOTE: FTX Seeks to Acquire Crypto Lender BlockFi: The Block

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Luke McGrath in New York at lmcgrath18@bloomberg.net

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