BlockFi CEO denies $25 million sale to FTX

BlockFi CEO Zac Prince took to Twitter on Thursday to deny reports the crypto lending platform is likely to be sold to FTX for $25 million.

"Lots of market rumors out there - I can 100% confirm that we aren’t being sold for $25M," Prince stated. "I encourage everyone to trust only details that you hear directly from @BlockFi. We will share more w you as soon as we can," he added.

Earlier, CNBC reported FTX is nearing an agreement to buy BlockFi for $25 million despite the fact the company has been valued at $4.8 billion.

Baha Breaking News (BBN) / NP