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SBF
@SBF_FTX
1) Today we’re injecting $250m into BlockFi and partnering with them so they can navigate the market from a position of strength.
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Zac Prince
@BlockFiZac
Today @BlockFi signed a term sheet with @FTX_Official to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength.
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SBF
@SBF_FTX
2) BlockFi has careful risk management and great leadership. So they successfully removed at-risk counterparties preemptively. BlockFi customer assets are appropriately managed, with no debt/risk from 3AC, Celsius, etc.
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@SBF_FTX
3) Sometimes leadership means acting decisively and that’s what BlockFi did: removing troublesome counterparties _before_ they become a problem, and adding cash _before_ it was necessary.
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@SBF_FTX
4) BlockFi is financially strong; all operations are normal, as they always have been, and assets are safe.
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@SBF_FTX
5) And, going forward, we’re excited to partner with BlockFi to offer industry leading products.
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@ironypirate
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@SBF_FTX
"removing troublesome counterparties _before_ they become a problem, and adding cash _before_ it was necessary."
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echotoall
@echotoall
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@SBF_FTX
Transparency protects the ecosystem. W the book on public ledger for all to see, they wouldn’t put themselves in a vulnerable position. We wanted self regulation. Instead we got a mini JPMorgan… next comes digital Fed… likely there w $SOL whale breaking
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