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BlockFi To Raise Hundreds Million Dollars At $5 Billion Valuation

Summary: According to a report from The Information, insiders revealed that the crypto lending platform BlockFi is in late-stage negotiations with new and existing investors, and plans to raise hundreds of millions of dollars at a valuation of nearly $5 billion.  A person familiar with the matter said that Third Point Management, a hedge fund run ...

According to a report from The Information, insiders revealed that the crypto lending platform BlockFi is in late-stage negotiations with new and existing investors, and plans to raise hundreds of millions of dollars at a valuation of nearly $5 billion. 

A person familiar with the matter said that Third Point Management, a hedge fund run by Daniel Loeb, and Hedosophia, a London-based venture capital firm, are leading the new financing, with existing investors also participating. 

BlockFi was co-founded in 2017 by current CEOs Zac Prince and Flori Marquez. The company completed a $350 million Series D financing early this year, raising its valuation to $3 billion.

By Mary Liu

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Link: BlockFi To Raise Hundreds Million Dollars At $5 Billion Valuation   [Copy]
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