Crypto Exchange FTX in Talks to Acquire Stake in BlockFi

Billionaire Crypto Sam Bankman-Fried has become a lender of last resort to his beleaguered industry. He may end up owning large chunks of it as well.

Mr. Bankman-Fried’s crypto exchange, FTX, is in talks to acquire a stake in BlockFi, a crypto lender that FTX gave a $ 250 million credit line this week, people familiar with the matter said. His other company, Alameda Research, also acquired a large ownership stake in Canadian crypto broker Voyager Digital Ltd.

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