Summary: Two sources told CoinDesk that FTX could acquire BlockFi for just $15 million, the lowest price in the deal, down from the $25 million CNBC reported in a report a few months ago. If BlockFi can obtain an S-1 license from the SEC by Dec. 31, FTX US will pay an additional $25 million, the ...
If BlockFi can obtain an S-1 license from the SEC by Dec. 31, FTX US will pay an additional $25 million, the sources said. The S-1 is the route a company takes when it goes public in the U.S. through an IPO.
The source also said FTX US will contribute an additional $100 million if BlockFi client assets reach at least $10 billion when the acquisition rights are exercised. As of the end of the second quarter, BlockFi’s combined wallet and deployable assets under management were just $4.4 billion.
By Mary Liu