
BlockFi, a crypto lending firm, has confirmed a $250 million credit facility from FTX (CRYPTO: FTT).
What Happened: BlockFi CEO, Zac Prince, made the announcement on Tuesday. The funding endeavors to optimize BlockFi’s platform while supporting its balance sheet. As the cryptocurrency market plunges and other lending firms, such as Celsius (CRYPTO: CEL), experience structural faults, BlockFi has also fallen prey to the recent crashing prices.