{"id":63797,"date":"2022-07-01T16:39:10","date_gmt":"2022-07-01T13:39:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63797"},"modified":"2025-09-06T10:55:25","modified_gmt":"2025-09-06T07:55:25","slug":"bloomberg-reports-ledns-offer-for-blockfi","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-reports-ledns-offer-for-blockfi\/","title":{"rendered":"Bloomberg reports Ledn&#8217;s offer for BlockFi"},"content":{"rendered":"<p>Ledn, a competing platform, has approached BlockFi, the crypto-lending company in financial distress, with a deal proposal. This is reported by <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-01\/crypto-lender-blockfi-in-talks-with-ftx-also-gets-ledn-offer?sref=3REHEaVI\\\">Bloomberg<\/a>, citing sources.<\/p>\n<p>According to the agency, the cryptocurrency exchange FTX led by Sam Bankman-Fried is in talks with BlockFi about <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-in-talks-to-acquire-stake-in-blockfi-reports-say\">a potential acquisition<\/a>. CNBC noted that the proposed purchase price is $25 million, while in March 2021 the company&#8217;s <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-raises-350-million-at-a-3-billion-valuation\">reached $3 billion<\/a> valuation.<\/p>\n<p>BlockFi co-founder and CEO Zac Prince dismissed the reports:<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThere are a lot of rumors in the market \u2014 I can 100% confirm that we are not being sold for $25 million. I urge everyone to trust only information that comes directly from BlockFi. We will share more as soon as we can.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">There are a lot of rumors in the market \u2014 I can 100% confirm that we aren\u2019t being sold for $25M. <\/p>\n<p>I encourage everyone to trust only details that you hear directly from <a href=\\\"https:\/\/twitter.com\/BlockFi?ref_src=twsrc%5Etfw\\\">@BlockFi<\/a>. <\/p>\n<p>We will share more w you as soon as we can.<\/p>\n<p>\u2014 Zac Prince (@BlockFiZac) <a href=\\\"https:\/\/twitter.com\/BlockFiZac\/status\/1542582904110317568?ref_src=twsrc%5Etfw\\\">June 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to Bloomberg sources, Ledn&#8217;s offer does not entail a full acquisition, but contemplates providing additional capital.<\/p>\n<p>Under Ledn&#8217;s terms, it would lead a BlockFi financing round of $400 million, and also contribute $50 million in equity. As a result, the company would obtain a \u201csignificant stake\u201d in the rival.<\/p>\n<p>CEO Ledn Adam Reeds said that &#8220;at this time he cannot share any further details&#8221;.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cLedn is currently evaluating a range of opportunities to expand its leadership in digital asset lending and beyond,\u201d he noted.<\/p>\n<\/blockquote>\n<p>The Canadian platform offers yields of up to 7.5% per year on deposits in Bitcoin and the stablecoin USDC, and also lends funds. However, unlike some rivals, Ledn does not invest in DeFi protocols to earn income, Bloomberg notes.<\/p>\n<p>BlockFi was among the firms hit by the liquidity crisis in the sector and the troubles at Three Arrows Capital (3AC). The firm acknowledged that it liquidated the position of a major client who failed to meet credit requirements. Reports indicate this referred to 3AC.<\/p>\n<p>Earlier, reporters learned that Morgan Creek Digital planned to raise $250 million to acquire a controlling stake in BlockFi.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 crypto news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlockFi, the crypto-lending company in financial distress, received a deal proposal from competing platform Ledn, Bloomberg reports, citing sources.<\/p>\n","protected":false},"author":1,"featured_media":63798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1436,2272],"class_list":["post-63797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockfi","tag-ledn"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63797"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63797\/revisions"}],"predecessor-version":[{"id":63799,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63797\/revisions\/63799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63798"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}