Crypto Exchange FTX In Discussion To Buy Stake In BlockFi: Report

Crypto exchange FTX is in talks to acquire a stake in crypto lender BlockFi, the Wall Street Journal reported, citing people familiar with the matter.

Cryptocurrency exchange FTX is in talks to acquire a stake in crypto lender BlockFi, the Wall Street Journal reported, citing people familiar with the matter.

The companies had previously announced on Tuesday that BlockFi had signed a term sheet with FTX for a $250 million revolving credit facility, which will give BlockFi crucial access to capital amid a rout in the digital currency market.

No equity agreement has yet been reached, and discussions are ongoing, according to the Wall Street Journal.

In a statement, a BlockFi spokesperson said the company "does not comment on market rumors."